XTZ NFTs have stuck to their excellent performance, notwithstanding the decline in other digital collectibles markets.
The traders kept the NFT market alive with an ATH per its volume.
Tezos shook hands with game and VR/AR development software giant Unity.

Tezos has partnered with Unity, which is a gaming and VR/AR development giant, with an aim to develop a Web3 blockchain software development kit (SDK). This may bring newer revolutions to the gaming industry as it strikes the interest of millennials and GenZ. Recently, XTZ’s NFT market also witnessed a leap despite the decline experienced by the overall digital collectible market, as it booked its ATH above 80,000 within the period. This volume surge took the activeness of fewer traders.

The diagrammatic story

The price is forming a falling wedge pattern taking support at $0.930. It records a decent amount of volume of purchases by investors. The price may reclaim the 20-EMA in a blink and aim for higher targets. The market seems to gain pace steadily as the investors are slightly cautious as they have undergone a lot these past few weeks.

The CMF indicator floats below the 0-level and has a slightly upward slope, but it may drop before the big surge to gain higher momentum. The MACD indicator very recently coincided with the signal line above the MACD line. The buyers and sellers currently momentum below the zero-histogram mark, but slope upwards to reach higher. The RSI indicator remains in the neutral bounds of 30-40 and facing upwards. It may rise higher as the sellers get the hold of the market.

The smaller frame

The MACD indicator entwined after the convergence and recorded a little bit of both forces. It may diverge in a bullish swing and a respectable distance. The RSI indicator escalates to the range of 50-60, intending to rise further. The CMF indicates a downward movement, indicating the price retraces before the push.

Conclusion

The market for Tezos is currently preparing a solid foundation, backed by which it may surge in the future days. These current projects and partnerships may yield higher returns and be favorable for long term investments.

Technical levels

Support levels: $0.85 and $0.65

Resistance levels: $1.50 and $1.70

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Source: https://www.thecoinrepublic.com/2022/11/26/scoop-up-every-chance-you-get-tezos-preparing-a-stronger-footing/