Tezos News Today – Tezos’ founders, Arthur and Kathleen Breitman have once more been involved in a controversy after they hinted that they could move on from the Tezos project. Recall that Arthur was recently excluded from the Tezos Technical Advisory Committee. Meanwhile, Kathleen seemed disinterested in running her Blockchain-based game on the Tezos network.

The reports set off concerns among proponents of the protocol. While emotions are running high in Tezos’ community, the cryptocurrency managed to shrug off the “FUD” and recover all losses it incurred on March 12. The value of XTZ has surged by 187% since that time. Now, multiple technical indexes show that Tezos could even do better.

Tezos Recent Movements Suggest Fresh Retracement

The TD Sequential indicator has been accurate this time out at predicting local tops. This technical index managed to anticipate the previous 18% nosedive that occurred for Tezos on March 27. At that time, it presented itself as a sell signal and took the form of a green nine candle (this changed to a red one candle).

Two weeks on, the TD setup also presented a similar bearish pattern which suggests that the Tezos price was bound for a fresh retracement. The selling pressure behind the token has increased, which also helped to push XTZ’s price down by 16%. On April 21, a similar event occurred and the price of the coin plummeted by 7.5% after there a strong sell signal. These corrections are surprising thing is that on the average Tezos price went up by 50%. Considering that after this recent pullback the coin’s current price levels present a fresh accumulation zone, XTZ could be set to test its late February highs at $4.

Tezos Bulls Will Aim for Higher Highs

As BTC’s halving draws nearer, the crypto market will enter a period of high volatility and exuberance. Under such circumstances, the demand of Tezos would spike and it might break above its overhead resistance point considering the coin’s recent high point of $2.90 and the expected trend line of $3. The bull would likely be followed by panic buying by those looking to enjoy the action. When this happens, the price of XTZ may rise to test the next resistance at $3.4, $3.7, and $4.

Note that an increase in Tezos’ supply may put an optimistic scenario in jeopardy. A rejection at the overhead resistance might see the price of Tezos plunge by 78.6% or to the 61.8% Fib retracement area. These support areas include $2.50 and $2.20. Time will determine whether history will be repeated or not.