TezosLong
Tezos (XTZ) long term potential
Tezos (XTZ) is a new crypto added to Coinbase the last few months. It has had big price appreciation this year. In the monthly chart I've drawn Elliott Wave projections I see that are possible for XTZ in the future. The under $1 to $4 wave (1) move was followed by a wave (2) retrace in March 2020 to about $1. Intermediate wave (3) started with a minor wave (1) up to $3 followed by a minor wave (2) to just over $2. This is minor wave (3) and it has met some resistance in the $3.20 area. Once the $3.30 resistance area is cleared, then it looks like clear sailing to the $4 ATH. Intermediate wave (3) could go to the 2.618 Fib extension of the waves (1) and (2) moves or to $7 to $8 later this year. I would expect some sort of wave (4) retrace then a possible wave (5) move to about $20 in early 2021. Long term I can see XTZ at near $190 by the end of 2021 if the crypto bull run peaks at that time. If the crypto peak is the end of 2022, then XTZ could reach over $1000 IMO.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.