Tezos May Decline Soon
Tezos (XTZ) is seeing a modest rise of less than 1.0% this week, reaching $0.934. In contrast, Bitcoin (BTC) has surged by 5.0% to $71,000, underscoring Tezos' relative weakness. Investors might be disappointed as Tezos has yet to recover from its 35.0% drop in April. The token has twice attempted to climb above the $1.000 resistance but failed each time.
Despite some positive developments, such as the launch of the Paris update on Mainnet which brought further improvements to the blockchain, Tezos has struggled to gain significant traction. The improving general sentiment in the crypto market should ideally push its prices higher, but instead, they remain stagnant. This creates significant downside risks, potentially driving prices towards $0.800.
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