Tezos (XTZ) long term potential

24 lug 2020

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.