Tezos Price Analysis: XTZ/USD Bullish Break and Pullback
Tezos recently surged sharply to the 1.4700 levels as the co-founder of this digital coin shared that they will be looking to the video gaming market. According to Kathleen Breitman, online video games are one of the most promising applications for the smart contract service that raised $232 million in one of the biggest ICO launches.
On the 1-hour chart, the spike to the new highs can be seen, along with a quick pullback to the area of interest or former resistance at 1.2500. If this area has some buyers, Tezos could recover to its latest highs or beyond these soon enough.
According to Kathleen Breitman:
The reason I’m focusing on online video games is primarily because the users of these games tend to have the right profile for adopting new digital paradigms.
However, she refrained from sharing further details, simply citing that it will involve a separate company and that their focus will be on building applications that are easy to use for the general public. On the subject of Goldman Sachs’ rumored plans to ditch its bitcoin trading desk, she mentioned:
I’m not surprised it didn’t go through. There’s a paucity of sophisticated actors who understand bitcoin really well in these Wall Street firms.
Tezos is a smart contract platform similar to ethereum. The key feature of this coin is the involvement of all stakeholders in the direction and governance of the platform, allowing them to vote on amendments to the Tezos protocol and even changes to the voting procedure itself.
Tezos is perhaps one of the few coins that are enjoying a bit more support so far this week as cryptocurrencies were off to a rough start. News of the SEC trading suspension on a couple of crypto-backed securities on account of confusion among customers on the related market has weighed heavily on industry sentiment.