Warning: session_start(): open(/tmp/sess_87bb5ff315cefb72c2fb8544b5595c43, O_RDWR) failed: Disk quota exceeded (122) in /home/customer/www/thefuturecoin.com/public_html/wp-content/plugins/jnews-social-login/class.jnews-social-login.php on line 83

Warning: session_start(): Failed to read session data: files (path: /tmp) in /home/customer/www/thefuturecoin.com/public_html/wp-content/plugins/jnews-social-login/class.jnews-social-login.php on line 83

Warning: Cannot modify header information - headers already sent by (output started at /home/customer/www/thefuturecoin.com/public_html/wp-content/plugins/jnews-social-login/class.jnews-social-login.php:83) in /home/customer/www/thefuturecoin.com/public_html/wp-content/plugins/jnews-weather/class.jnews-weather.php on line 70
Tezos price may crash 45% on this chart pattern – The Future Coin
The Future Coin

Bitcoin

$62,673.92

BTC -0.51%

Ethereum

$2,466.83

ETH 5.92%

XRP

$1.71

XRP 3.14%

Litecoin

$275.47

LTC 4.82%

EOS

$7.71

EOS 6.28%

  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases
No Result
View All Result
The Future Coin
No Result
View All Result
Home Policy & Regulations

Tezos price may crash 45% on this chart pattern

by The Future Coin
June 13, 2020
in Policy & Regulations
0
Tezos price may crash 45% on this chart pattern
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

  • Tezos to use blockchain AML & transaction monitoring solutions made by Coinfirm
  • XTZ/USD trading over 7% lower this week
  • A potential double top pattern is developing in Tezos, which may ultimately take the price action 45% lower

Tezos price has lost over 7% this week as the buyers have failed to force a daily close above the $3.00 mark. As a result, the price action is developing a double top chart pattern, which is a bearish formation that may ultimately push the price action below the $1.50 handle. 

Fundamental analysis: Tezos to integrate tech for anti-money laundering compliance

Tezos protocol and its native token, XTZ, have incorporated blockchain AML & transaction monitoring solutions made by Coinfirm, the blockchain analytics and Anti-Money Laundering (AML) said.

“Tezos has set itself in a leadership role by providing their protocol and related users and businesses the long term capability to operate and thrive globally in regulated markets. This will help push Tezos’ growth and adoption and we look forward to working with them further”, Coinfirm’s CEO and Co Founder Pawel Kuskowski noted. 

The AML protocols are now required for projects and platforms that are looking to operate in regulated markets globally. Coinfirm said that “Coinfirm AML Platform will be applying its 200+ proprietary algorithms and 300 risk scenarios to analyze risk on the protocol”.

“Coinfirm’s industry-leading AML compliance product provides a must-have tool for banks and other regulated financial players that store or issue value on the Tezos blockchain,” said Roman Schnider, CFO and Head of Operations at the Tezos Foundation.

It is believed that 1,500 different coins, tokens, and protocols are now using Coinfirm AML Platform. 

Technical analysis: Potential double top pattern

Tezos (XTZ/USD) has lost over 7% in value so far this week after the coin followed Bitcoin and the rest of the crypto market lower on Thursday. XTZ/USD failed to clear the horizontal resistance around $3.05 in the first week of June, rotating lower to trade around the $2.70 handle. 

Tezos daily chart (TradingView)

As a result, the price action has been creating a potential double top pattern, which is a bearish chart formation. This pattern comes as a result of the buyers’ inability to extend the bullish series of the higher highs. The second peak is not registered as a higher high, but rather as an equal high. This weakness is then used by the sellers to push the price action lower and erasing previous gains. 

The double top pattern would be activated by a move below the $2.25 mark, which is a neckline in this case. The break of this area would facilitate more selling in Tezos price action, and paving the way for the pattern to be completed just below the $1.50 mark.

Summary

Tezos price has been trading lower this week after the entire crypto market took a plunge on Thursday. The price action is now creating a potential double top formation, which is a bearish chart pattern that may take XTZ/USD to below $1.50.

Source link

EDITOR’S CHOICE

Ethereum Could Reduce Fees With Batch Transactions

Ethereum Rival Polkadot Futures Suffer 99% Flash Crash—Forcing Binance To Enact Fresh Controls

Global Crypto Investment Fund FD7 Ventures to Sell $750M USD Worth of Bitcoin to Increase Cardano and Polkadot Holdings

Coinbase Files for Direct Public Listing With SEC – Cryptocurrency Regulation

Tanla to take Blockchain platform Trubloq abroad

From mail-in ballots to business as usual, Vermont municipalities prepare for Town Meeting

Best Pick For You

News

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business News
  • Ethereum News
  • Litecoin News
  • Ripple News

Features

  • Market Analysis
  • Opinion
  • Explained
  • Policy & Regulations
  • Top Cryptocurrencies
  • Technology News

Market Tools

  • Market News
  • Price Indexes
  • Bitcoin Price Index
  • Ethereum Price Index
  • Bitcoin Cash Price Index
  • Litecoin Price Index
  • Monero Price Index
  • HeatmapPartner

Cryptopedia

  • Explained
  • Bitcoin101
  • Bitcoin Cash101
  • Ethereum101
  • ICO101
  • Ripple101

© 2020 Coingraph

No Result
View All Result
  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases

© 2020 Coingraph

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
bitcoin
Bitcoin (BTC) $ 62,823.00
ethereum
Ethereum (ETH) $ 2,471.14
binance-coin
Binance Coin (BNB) $ 550.59
xrp
XRP (XRP) $ 1.73
cardano
Cardano (ADA) $ 1.48
tether
Tether (USDT) $ 1.00
polkadot
Polkadot (DOT) $ 43.21
uniswap
Uniswap (UNI) $ 38.87
litecoin
Litecoin (LTC) $ 273.79
chainlink
Chainlink (LINK) $ 43.61
dogecoin
Dogecoin (DOGE) $ 0.132167
bitcoin-cash
Bitcoin Cash (BCH) $ 822.66
stellar
Stellar (XLM) $ 0.631308
theta-token
Theta Network (THETA) $ 12.23
vechain
VeChain (VET) $ 0.188514
usd-coin
USD Coin (USDC) $ 1.00
filecoin
Filecoin (FIL) $ 171.42
tron
TRON (TRX) $ 0.153014
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 62,971.00
klay-token
Klaytn (KLAY) $ 3.07
solana
Solana (SOL) $ 27.37
eos
EOS (EOS) $ 7.65
crypto-com-chain
Crypto.com Coin (CRO) $ 0.252005
cosmos
Cosmos (ATOM) $ 26.69
bitcoin-sv
Bitcoin SV (BSV) $ 336.16
terra-luna
Terra (LUNA) $ 16.48
compound-ether
cETH (CETH) $ 49.59
aave
Aave (AAVE) $ 474.27
monero
Monero (XMR) $ 332.64
iota
IOTA (MIOTA) $ 2.10
bittorrent-2
BitTorrent (BTT) $ 0.008462
okb
OKB (OKB) $ 20.69
binance-usd
Binance USD (BUSD) $ 0.999455
tezos
Tezos (XTZ) $ 6.74
ftx-token
FTX Token (FTT) $ 56.44
avalanche-2
Avalanche (AVAX) $ 38.08
neo
NEO (NEO) $ 69.66
algorand
Algorand (ALGO) $ 1.54
kusama
Kusama (KSM) $ 467.93
elrond-erd-2
Elrond (EGLD) $ 229.38
compound-usd-coin
cUSDC (CUSDC) $ 0.021941
nem
NEM (XEM) $ 0.425306
huobi-token
Huobi Token (HT) $ 20.76
pancakeswap-token
PancakeSwap (CAKE) $ 24.19
holotoken
Holo (HOT) $ 0.020057
cdai
cDAI (CDAI) $ 0.021419
thorchain
THORChain (RUNE) $ 14.73
dash
Dash (DASH) $ 319.01
havven
Synthetix Network Token (SNX) $ 21.39
dai
Dai (DAI) $ 1.00