Category Archives: Allgemein

Tezos (XTZ) follows Chainlink to set a new record, but is USD 6 a realistic level?

 

As Chainlink (LINK) reaches one new historical record after another, a similar move would be expected in Tezos (XTZ). This is because these two currencies have moved together over the past few years and have been one of the few resilient digital tokens, despite the downturn in the crypto market during the period.

 

Tezos (XTZ) showed strength as it rose from $2.95 to $4.50 in the previous four days, resulting in a rebound of more than 50%. But is an even bigger rally being prepared for Tezos? Let’s review the charts.

Tezos breaks clear resistance at $3.25 and goes up to $4.45

As the graph shows, Bitcoin Code price broke the resistance zone at $3.25 and began to show impressive strength. The XTZ price rose from $3.25 to $4.50 in a matter of days.

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If a crypt currency is under price discovery, the easiest way to determine target zones is through the Fibonacci Extension Indicator. In trading, it is necessary to measure these targets by setting the Fibonacci levels of 1618 and 2618.

Something similar happened on the Tezos chart when the price broke above $3.25 and rose to the 1.618 Fibonacci level, after which it immediately continued to the next resistance zone at the 2.618 Fibonacci level. The price of Tezos then reversed, which can be attributed in large part to the retracement of Bitcoin (BTC).

Main XTZ Support Levels

The 4-hour chart clearly shows some support areas, which are crucial to observe. As is commonly known, buying green candles does not guarantee extra profits. This strategy is very aggressive and emotional during trading.

As measured on the chart, entering a trade through defined support zones is clearly a better approach.

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For example, the 4-hour chart shows some critical support areas. Of course, the above resistance of $3.25 is an obvious support zone and mainly the best area for any buying opportunity.

However, since there is such a volatile movement, it is unlikely that these areas will be affected. In the bullish markets, the best support/resistance changes will usually not be reached, as traders and investors move ahead of these levels.

As the chart shows, the next opportunity to look for support is the $3.60-3.75 area, which is generally expected to provide support in the shortest time frame. From here, the price is ready to consolidate into a range, before further expansion occurs.

 

Ontology partners with German company to accelerate supply chain identity solutions

Ontology recently partnered with German digital identity and cloud wallet provider Spherity to help accelerate the development of digital identity solutions for products and businesses.

The partnership will see Spherity’s wallet integrated with Ontology’s block chain (ONT), and will enable Ontology to use Spheriy’s Decentralized Digital Identity solutions.

The two companies will work together to create proof-of-concept pilots that demonstrate applications for digital identity in the context of supply chain, mobility and pharmaceuticals, leveraging Spherity’s existing customer base.

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Ontology and Spherity will also collaborate on research and marketing initiatives.

Identity solutions target the supply chain

Spherity’s CEO, Dr. Carsten Stöcker, told Cointelegraph that most of the investment, research and development in blockchain-based identity solutions is not directed at identifying individual citizens.

„Blockchains and distributed log books are primarily used to encode a multitude of other forms of information that is used to track goods and value as they move across the globe,“ Stöcker said. He continued:

„The technologies we call identity systems not only identify individual citizens and correlate their legal and financial life with their digital life, but they also identify machines, autonomous algorithms, corporate entities, product information, licenses and many other things that need a strong identity and signature rights to enter this auditable, but private, transaction information system.

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„There are millions of use cases that have nothing to do with KYC or human identity of any kind, and even in the KYC space there are many ways to build in pseudonymity, revocable anonymity, disposable identities Bitcoin Code / Immediate Edge / Bitcoin Revolution / Bitcoin Profit / Bitcoin Era / Bitcoin Evolution / Bitcoin Trader / The News Spy / Bitcoin Circuit / Bitcoin Billionaire, and other capabilities beyond simply asking users to show their papers and attach their digital lives to their status as subjects in a nation-state,“ he added.

Connecting Asian and European DLT platforms

Speaking to Cointelegraph, Ontology co-founder Andy Ji said the companies „are looking for partners to build a proof of concept that shows end-to-end traceability of manufactured products from their birth in an Asian factory to their sale in the European market.

„This is most likely a Chinese manufacturer already using other Ontology services to make its transactions more auditable, and a German import industry with very high compliance needs or facing reputational risks,“ he added.

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The partnership will also allow both companies to access new markets, as Ontology has a strong position in Asia, while Spherity has a strong European presence, particularly in Germany, Switzerland and Austria.

The companies hope to facilitate greater interoperability and collaboration between European and Chinese block chain ecosystems.