Tezos Is Rushing to the Upside
Tezos (XTZ) is experiencing a significant drop of 10.0% this week, falling to $0.7230. This decline follows a strong resistance at $0.8000 and is part of a broader retreat in the cryptocurrency market. Bitcoin (BTC) also fell by 6.5% to $64,000, though it is expected to recover quickly once the market stabilizes, which could help Tezos surpass the $0.8000 resistance.
Despite the recent drop, Tezos has positive internal developments that could support a price recovery. Bitfinex recently announced it is enabling deposits and withdrawals for Tether (USDt) on the Tezos blockchain, making Tezos the twelfth blockchain protocol to support USDt. Additionally, Tezos is actively participating in “Plastic Free July,” highlighting its role in the art world, and has launched Athletics Rush, an official mobile game for the 2024 Olympic Games in Paris. These initiatives provide strong backing for a potential price increase in the near future.
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