Tezos price analysis: XTZ stuck in a bearish loop at $1.39

Tezos price analysis shows bearish price movement today, with XTZ/USD stuck in a downward loop. XTZ suffered considerable damage as the price has sunken down to $1.39 after following the most recent downtrend.

Timeline of Tezos

Allbridge, a platform that offers cross-chain bridge capabilities for the transfer of assets between both EVM and non-EVM compatible blockchains, has integrated with Tezos (XTZ/USD), a leading proof-of-stake network. This crypto news on cross-chain integration for Tezos follows a partnership between Allbridge and MadFish.Solutions, a Tezos decentralised finance ecosystem provider.

KYIV, Ukraine, 4th November, 2022, Chainwire Allbridge, a cross-chain bridge platform, has announced its integration with the open-source, energy-efficient Tezos blockchain. This bridge is a mutual collaboration by the Allbridge and MadFish.Solutions teams.

Tezos (XTZ) creator Arthur Breitman says that crypto projects rewarding people tokens for basic activities like walking, playing or learning are unsustainable. In a new interview with crypto strategist Scott Melker, Breitman says the “to earn model” is flawed and will ultimately fade away.

On Wednesday evening, Bitcoin was largely flat, but Dogecoin and Ethereum saw gains with the total market value of cryptocurrencies being roughly constant at $1 trillion. After a largely lackluster market month, cryptocurrency ended October slightly higher, setting up what may be a busy November.

Tezos price analysis shows an increasing bearish tendency as the price has followed a descending movement in the last 24-hours. The bulls had attempted to push XTZ prices up to $1.48 but were unable to break past the resistance level at $1.47.

Tezos price analysis is bullish for today, as an increase in price up to $1.43 has been observed. The bulls have been successful in crafting an upwards trend line for the price function during the last few days, and the trend is the same for today as well.

Leading centralized cryptocurrency exchange Robinhood announced the addition of Tezos [XTZ] as a tradeable crypto asset on its platform on 24 October. The addition to Robinhood led XTZ to exhibit an interesting performance in the last 24 hours.

Tezos (XTZ) price is still trading close to its lower long-term support level at the $1.30 mark; But with developments happening in its ecosystem, XTZ investors are hopeful of a breakout.  The post Tezos (XTZ) Price Struggles, Can Rising TVL Help?

Kora has announced that it has received an undisclosed amount from the Tezos Foundation. It has also adopted the energy-efficient Tezos (XTZ) blockchain to power its app carbon footprint app.

XTZ's price shows a spark of strength as price breaks out from a descending triangle as price eyes $2 with good volume.  XTZ continues in a range-bound downtrend movement as the price aims to breakout.