How did the TEZOS XTZ whales increase 112 % last month star-news.press/wp

Main meals

XTZ increased by 56.9 % at a rise of 6 months at $ 1.22 before restoring to $ 1.169 by the time of the press. Although the whales took control of the market, achieving profits threatens to disrupt The upward trend.

Tezos (XTZ) has been traded inside an upward channel since its outbreak of a long time ago.

In fact, over the past week, Tezos jumped by 80 % of this upscale outfit at 112 % in the last 30 days.

In daily plans, Tezos gathered 47.53 % to reach the highest level in 6 months at $ 1.22 before restoring a little to $ 1.169 by the journalism time. During the same period, the trading volume in Altcoin increased by 1061 % to $ 1.17 billion.

In addition, the TEZOS market ceiling reached $ 1.22 billion for the first time since January, which reflects the increase in capital and activity flows on the chain.

But is this the beginning of continuous recovery and emerging translation?

Whales inspire XTZ Rally

With the market recovery, the TEZOS whales appeared from the long period of lack of activity. According to Cryptoquant, the average arrangement in TEZOS turned a spot to green and remained as well during the past week.

Source: Cryptoquant

When this scale turns green, it means that the immediate markets are dominated by large whale orders, which reflects the increase in the activity of the whale.

Whales can usually return to the market either to the closing sites that are kept when losing or accumulating.

Interestingly, when we study the size of the sale of Tezos Spot Buy, we determine that these whales are often accumulated.

As a result, Tezos saw two consecutive days of high purchase pressure in relation to the sale pressure. On July 19, Xtz 72.2 million witnessed the purchase volume compared to 71.72 million in the sale volume, according to Coinalyze.

Source: Coinalyze

The same thing happened on July 20, with the volume of purchase to 37.87 million compared to 34.54 million in the sale volume.

As a result, Altcoin has seen the purchase of Delta from 483K and 3.33 million, respectively, a clear sign of the accumulation of immediate aggression.

Futures are more difficult

With the rise of the market, investors rushed to the market to take strategic locations, especially long positions.

According to Coinglass, the open interest increased by 343 % to 138 million dollars, while the derivative volume increased by 2832 % to $ 3.05 billion.

Such a height in both OI signs and the size of increased capital flow and participation in the futures market.

Source: Coinglass

As a result, the long tezos ratio jumped to 1.1, indicating high demand for long sites. When investors take longer positions, this means that they are actively betting on prices to continue the rise.

The threat of profit applicants also rises

This is not surprising, with high prices, as well as appetite to make profit. According to Coinglass, Tezos Spot Netflow has risen to the highest level in 8 months at $ 4.5 million, which reflects the increasing exchange deposits.

Source: Coinglass

Usually, when Netflow rises, it means that investors send more assets to exchanges more than their withdrawal. This trend in the market indicates that investors are vigorously spending.

Historically, the increase in exchange deposits preceded the low prices with high decline pressure.

Is XTZ to maintain the upward trend?

According to Ambrypto analysis, Tezos has seen a great rise amid the growing whale accumulation.

For this reason, the relative power index in Altcoin (RSI) increased from a decrease from 43 to 93 at the time of the press, and touched the excessive area.

Likewise, Chaikin Money Flow (CMF) jumped from 0.08 to 0.27, confirming high purchase pressure.

Source: TradingView

Simply put, XTZ has seen favorable conditions, inspired by whales, thus the status of altcoin for more gains.

However, if the whales maintain the current momentum, the XTZ is likely to continue as a rise and target $ 1.50.

However, if the profits you witnessed may overwhelm the market recently, Tezos can see a correction and a decrease to $ 0.93.