While Tezos is expanding, the price of its XTZ token continues in June 2021.

Tezos has several exciting updates in the pipeline-can they move the XTZ price in June?

tezos was developed as a better version of most smart contract-capable blockchain networks and has similarities with the largest as Ethereum and enables an open source platform for developers, blockchain and smart contracts to use advanced protocols and solutions. His XTZ-TOKEN recorded a strong price increase in the latest crypto bull run.

Starting at 2 USD in January of this year Tezos (XTZ) rode the larger wave of the crypto industry and reached its all -time high of USD 7.785 in the first week of May. Sharp corrections in the middle of the same month press the prices and on June 14th XTZ is traded at USD 3.258, which corresponds to a decline of 41.85 %. The previous month's low is $ 2.927, which was recorded a few days ago.

Will Tezos fall or go beyond that before June is over? Let us find out

Tezos: Performance since the beginning of the year

Source: Coinmarketcap

TEZOS was around $ 2.62 in mid-June and started driving in the third quarter of 2020, which was lost quickly within a few months and then returned more in February of this year. After a few ups and downs, XTZ was able to reach $ 7.785 before going down again. June 2021 was a witness to a close range of the XTZ price movement.

If you negate the extremely high movements and take the prices into account every 12 months, there is not much profitability overall. On the other hand, it has made great progress (and declines) in recent months. It is clear that a short-term investment and trade strategy for Tezos works.

Tezos-Price forecast: The basics

granada-update

tezos has worked on the update of its services and his next big update Granada is now being tested in a exploration phase so -called by the platform. The update brings a variety of changes to the TEZOS infrastructure, such as: B. a halving of the block production time and a reduction in total gas costs by up to 80 %. As soon as these changes are implemented in the Mainnet, TEZOS will overtake and develop the large blockchain ecosystems in terms of efficiency and speed and developers who shift their protocols in their network, create enormous advantages.

Smart contracts were also improved by the next version of Smartpy, a large library that helps not only with the creation of the contracts, but also with their analysis and examination.

nfts

As an efficient defi ecosystem, Tezos already became aware of OpenSea at the beginning of the year and has announced that it would integrate his services into the TEZOS network. OpenSA will use the FA2 standard of TEZOS, which enables fungible, not fungible and even non-transmitted token types in a single interface.

Source: Official Twitter-Handle of Tezos , June 4th

In terms of NFT, Hic et Nunc 2000, the NFT platform, OpenSea overhauled and is based on the TEZOS network this month, which shows that the network is gaining drive.

Expansion of the ecosystem community

There are many platforms that seem to develop in the Tezos network. The official website has officially listed 10 different development and engineering positions that range from frontend engineer to the Director of Engineering. Further positions can be found in the areas of marketing and communication and even in operational business.

Tezos forecast: The technology

While the fundamental indicators and analyzes show positive news for XTZ, most of its effects will be noticeable in the medium term in a few weeks to months. For a precise prediction of the Tezos Prize for June 2021, the technical indicators have to tell a slightly different story.

Source: Binance

When we look at the 1-day candlesticks, we can clearly see that a tight range has formed and that the EMA of 7 days (Magenta) and 9 days (red) begin to approach. If this trend continues, short -term convergence becomes stronger, which indicates that the price will probably not move up or down.

The MACD shows a slight positive message, with Magenta resisting a declining crossover and is just beginning to rise. This could mean that XTZ will increase, but not much and the profits will probably be low.

Source: www.gov.capital

GOV Capital, the online platform for the price forecast of assets, predicts that Tezos will experience small ups and downs in the remaining days of June 2021, but will lose value overall. It reaches a maximum predicted value of $ 3.33 and will apparently fall on an estimated $ 1.08 on the last day of this month.

The values given by GOV Capital are based on its proprietary AI system, which uses various values such as past prices, trading volume and well-studied market cycles.

FAZIT

Although Tezos and his XTZ token will break out in the coming months, as the fundamental indicators show and supported by long-term technical analysis, the indicators show at short notice that there will be no major price movements, and if July is closer, there is the possibility that the value continues.

Of course, all of this are predictions and there are countless other factors that have a major impact on the price and can make it to climb exponentially or to follow the downward trends.

The new financial year is just around the corner and countries all over the world present their budgets. This includes the largest of the USA of $ 6 trillion. This alone can persuade people to pursue Defi, since the large money injection leads to pressure on interest rate reductions and weaken the US dollar.

If, on the other hand, regulations are issued that increase taxes on the trade and investment of cryptocurrencies, and other rules that make it difficult to trade digital assets, they can cause an aversion to the purchase of cryptos.

Please note that the information mentioned above is only a personal opinion of the author that is derived from the relevant market data. None of this is to be understood as direct investment advice.