Tezos (XTZ), which ranks 18th by market capitalization, at around $ 1.55 billion as of November 15th 2020, started life in the middle of 2018, which was not the best time for cryptocurrencies, since the digital currency market was in the middle of a major pullback, after the surge at the end of 2017. As a result, it followed the main cryptos down in the first few months of its life, losing more than 90% of its value until December of that year.
But, it came back to life in 2019, as its use increased and the cryptocurrency market started to revive once again, and in August 2020, it reached $ 4.38. However, it didn’t benefit from the surge in the digital currency market during October and November, when Bitcoin and other cryptos surged higher, which raises questions. But the 20 SMA is holding as support on the monthly chart, and there are some fundamental developments going on for Tezos, so hopefully the bullish momentum will resume, although it’s not all that certain right now.