Is It Too Late to Buy Tezos? XTZ Price Rallies 9% as New Telegram Crypto Casino Raises $725,000
Tezos (XTZ) has seen impressive volatility over the past 48-hours, appearing in both the top gainers and top losers this week, but as price action saddles the 20DMA – is it too late to buy Tezos?
A dramatic +15.8% move yesterday was swiftly followed by an equally dramatic -10.72% drop last night.
Yet, amid the volatility – there appears to be little Tezos fundamental news driving the sudden movements.
Analysts speculate the move could have been triggered by a marketing push on Tezos’ Manchester United NFTs – however, other analysts suggest the move has simply been fuelled by an unexpected surge to $158m in trading volume.
Here we go…😉— Tezos (@tezos) October 7, 2023
Tomorrow, get ready to claim your complimentary digital memorabilia ahead of @ManUtdWomen's game vs. PSG!
Start your collection and add new matches across the season for the chance to unlock incredible rewards 🏆 Opens tomorrow: Sunday, October 8th @ 3:00…
XTZ Price Analysis: Is it Too Late to Buy Tezos After Sudden Move?
Following the lively price action, Tezos is currently trading at a market price of $0.66 (representing a 24-hour change of -3.48%).
The downside move comes following rejection from upper trendline resistance at $0.75, a level untouched since August 16.
Strong footing atop the 20DMA (stood at $0.67) has provided a 14-day consolidation zone, triggering the upside swing.
However, tumultous rejection has seen price action fall below 20DMA support this morning, in a worrying display that could signal further downside action on the horizon.
The last time XTZ dropped below the 20DMA on July 24, price action headed south for more than 65 days, with divergence below the moving average peaking at -28% below the 20DMA on August 18.
Meanwhile, the 200DMA – a level untouched since April 29 – is still trading high above the upper trendline at $0.84.
Despite the volatility, the RSI has only risen at a gradual rate with the leading indicator currently showcasing minor bullish divergence at an oversold 47.80.
The MACD also reflects minor bullish divergence at 0.001.
Overall, Tezos looks primed to catch support here – XTZ’s indicators suggest support at this level (And little indication of a further drop).
This leaves XTZ with a short-time frame upside target at $0.71 (a possible +7.36%).
While downside risk here could see XTZ fall to $0.645 (a potential -3.15%).
Tezos therefore carries a risk: reward ratio of 2.33 – as upside potential steals the limelight.
Yet, while Tezos continues to battle the 20DMA range, smart money are chasing consistent gains via a new Telegram GambleFi project with market-beating staking APY returns.
Beat the Market with TG.Casino’s 3,446% Staking APY as Presale Surges to $745k
Amid the surging interest in Telegram trading bots and GambleFi, TG.Casino (TGC) has rapidly caught the market’s attention, securing an impressive $745k in its presale in mere days.
Unlike typical Telegram bot ventures, TG.Casino has uniquely combined the casino thrill with blockchain’s decentralized benefits.
Being a licensed casino that integrates with Telegram and its vast user base, it offers an unparalleled blend of accessibility and potential.
What Makes TG.Casino Different in the GambleFi?
User Experience: With thousands of live casino games, slots, and table games, along with a comprehensive sportsbook, TG.Casino promises a rich user experience. Add a 150% matched deposit bonus and 500 free spins to the mix, and you’ve got an unbeatable offer.
Security: Users can trust the platform, thanks to encryption that protects data and funds against potential threats.
Token Utility: The $TGC token lies at the heart of the TG.Casino ecosystem. Not only does it power instant transactions, but it also holds various utilities, like being exchanged for gaming credits or other cryptos.
Staking & Rewards: The presale shines with a staggering 3,446% staking APY. Given that over a million tokens were staked on day one of the presale, it’s clear that the excitement is real. A buyback mechanism further ensures price stability and consistent rewards.
Participation: To join, head to TG.Casino’s official website, set up an ERC-20 compatible crypto wallet, purchase ETH or USDT, and follow the on-site steps to buy $TGC. Once the presale concludes, you can claim your tokens during the Token Generation Event.
Bright Future: With well-thought-out tokenomics and an incredible 3,446% APY, TG.Casino is setting the stage for monumental success in the GambleFi sector.
In conclusion, the TG.Casino presale represents not just an opportunity but an invitation to the future of GambleFi on Telegram.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.