Posted on: November 19, 2020 Posted by: admin Comments: 0

Tezos, IOTA, and BAT have all shown negative returns from October to date; Tezos [XTZ] has the least negative return in comparison with a -7.99% return as of this writing. Following Tezos is IOTA with a -11% return and BAT has a -18% return for the same time period.

The altcoins have been brutally beaten by bitcoin and its increasing dominance in the industry recently. The most recent surge, however, allowed the altcoins to experience volatility on the next level. This suppression is the cause of such lowly performance from Tezos, Iota, and Basic Attention Token.

Tezos [XTZ]

Source: XTZUSD TradingView

The 4-hour chart for Tezos showed that it was in an accumulation phase with prices expected to surge higher in the coming weeks. At press time, the price has finished with Phase D and is entering Phase E, which involves a surge in the price above the AR [Automatic Reaction].

Hence, going long would be the best way to take positions in Tezos.

The RSI indicator showed that there is room for it to move down towards the oversold zone, hence, the stop-loss for the said