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Tezos-based DeFi Ecosystem Smartlink Launches Second Generation of Vortex with Yield Farms: Details

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Now the enthusiasts of Tezos (XTZ) blockchain can “yield farm” Sushiswap-style

Tezos-centric multi-product ecosystem Smartlink, which includes a peer-to-peer marketplace, launchpad and decentralized escrow, shares a crucial update for its Vortex decentralized cryptocurrency exchange (DEX).

Smartlink launches “yield farming” on Vortex DEX

In its recent official announcement, Smartlink ecosystem stated that the latest release of its DEX Vortex (Vortex v1.2) supports “yield farming” functionality.

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Namely, the yield farming functions will be activated for the following Tezos-based assets (that belong to both FA1.2 and FA2.0 standards), including SMAK, USDtz, hDAO, ETHtez, tzBTC, Crunch, Plenty, QUIPU, kUSD and Ctez.

Vortex yield farm’s codebase is audited by top-notch Tezos (XTZ) development studio, LIGO Lang. Besides products for Tezos’ ecosystem, LIGO Lang devs contributed to programming languages utilized in Tezos’ dApps.

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As such, the holders of various Tezos-based assets will earn yields on their dormant cryptocurrencies after locking them into Vortex liquidity pools.

Advancing UX of Tezos-based DeFi

Besides “yield farming” opportunities, Smartlink introduced a number of improvements for performance, user experience and operations of its architecture.

The new iteration of Vortex boasts an advanced analytical toolkit, including daily gainers and losers, daily TVL, top pools, staking statistics and fee distribution.

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An easy-to-use ROI calculator will help crypto holders to choose between the most active and profitable pools. As such, Vortex will guarantee the unmatched yield farming experience for traders with various levels of expertise in crypto.

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Tezos

Tezos Price Analysis: XTZ to break above the intraday highs of $5.1

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  • Tezos price analysis is bearish today.
  • XTZ/USD is trading at $54.9.
  • Next support at $4.65.

The price of Tezos is under pressure today as we anticipate a further decline following the current consolidation. As a result, XTZ/USD should next aim to test the previous low at $4.65.

We are currently testing the support zone between $5, which was retested after breaching it, and $4.65, where the lower boundary of the symmetrical triangle is located. The price action consolidated around this area today while opening trades were neutral during European trading hours before slightly moving up to test the resistance at $5.49. However, it closed below this level without being able to close above it, after which the price fell back down to retest support at $5. There, XTZ/USD managed to breach resistance while taking out another important support at $4.90 to close the day at $4.63, where it currently trades around, approximately 10% down compared with two days ago

Technical analysis indicates that XTZ/USD is about to challenge the Fibonacci level at around $4.50, which offers strong support as far back as April this year. According to historical data, the 100-day moving average closely follows this price zone, marking an important resistance area for Tezos before entering any bullish mode.

XTZ/USD 4-hour chart: XTZ targets $4.65 next?

We can see consolidation continuing today on the 4-hour chart, likely as bears prepare to push the Tezos price even lower along with the overall bearish trend.

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tezos price analysis
XTZ/USD 4-hour chart. Source: TradingView

After a several-week fall from its all-time high of $9.14 set on the 4th of October, Tezos price action has hit a new low in recent days. The market is still dominated by bearish momentum, with no indications of recovery yet apparent, suggesting that we will see further downside later this week.

On Saturday, XTZ/USD hit a clear lower high at $5.6, with a later reversal. Tezos began to plummet rapidly overnight Monday until it reached the $5 mark, where minor support was discovered last week.

After that, the Tezos price trend has remained above the support. We will most likely see XTZ/USD break below $5 later this week, continuing with the broader multi-week bearish trend.

Tezos Price Analysis: Conclusion 

Technical indicators are hinting towards further declines over the coming sessions, but they may need some time before being confirmed, so patience is needed in order not to waste any opportunity on better entry prices later on since we anticipate a more substantial correction near term after having tested some important levels.

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Tezos Price Analysis: XTZ consolidates around $5, not yet ready to move higher?

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  • Tezos price analysis is bearish today.
  • XTZ/USD still consolidates around $5.
  • Next support at $4.65.

Tezos price analysis is bearish today as we expect further drop to follow after the current consolidation is resolved. Therefore, XTZ/USD should move to test the previous low at $4.65 next.

Tezos Price Analysis: XTZ consolidates around $5,  not yet ready to move higher? 1
Cryptocurrency heat map. Source: Coin360

The cryptocurrency market traded in the red over the last 24 hours, with Bitcoin down by 3.41 percent. Meanwhile, Ethereum has lost 2.14 percent, while Loopring (LRC) is the top performer, with over an 18 percent gain.

Tezos price movement in the last 24 hours: Tezos continued to consolidate around $5 support

XTZ/USD traded in a range of $4.91- $5.19, indicating low volatility over the last 24 hours. Trading volume has declined by 5.49 percent, totaling $174.1 million, while the total market cap trades around $4.34 billion, ranking the coin in 43rd place overall.

XTZ/USD 4-hour chart: XTZ targets $4.65 next?

On the 4-hour chart, we can see consolidation continuing today, likely as bears prepare to push the Tezos price even lower along the overall bearish trend.

Tezos Price Analysis: XTZ consolidates around $5,  not yet ready to move higher?
XTZ/USD 4-hour chart. Source: TradingView

Tezos price action has reached a new low over the past week after a several-week decline from the $9.14 all-time high set on the 4th of October. Bearish momentum still dominates the market with no clear signs of recovery seen, indicating we can expect more downside later this week.

Over the weekend, XTZ/USD saw a clear lower high set at $5.6 previous support, with reversal a couple of hours later. Overnight to Monday, Tezos started to rapidly decline until the $5 mark, where minor support was previously seen last week.

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Since then, the Tezos price action has consolidated above the support. Likely we will see XTZ/USD break below the $5 later this week to continue along with the overall, several-week bearish trend.

Tezos Price Analysis: Conclusion 

Tezos price analysis is bearish today as we saw bears take a pause over the last 24 hours after a sharp drop lower on Sunday. Therefore, we expect XTZ/USD to continue lower once the current consolidation is resolved.

While waiting for Tezos to move further, see our articles on the Best Crypto Wallet 2021, Decred Wallet, and Ripple vs SEC.

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Solana, Tezos, EOS Price Analysis: 21 November

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While the bulls tried to revive, bears did not fail to pose hurdles as prices struggled to achieve a breakthrough.

After an onerous November for the buyers, altcoins like Solana, Tezos and EOS continue to display a bearish outlook while hinting at a near-term increasing bullish force.

Solana (SOL)

TradingView, SOL/USD

SOL rallied by over 85% from 12 October to 6 November, 2021. With this upturn, it struck its ATH on 6 November. Since then, the withdrawal phase kicked in as the bears visibly took over. 

During the downfall, SOL lost over one-fourth of its value until it touched its three-week low on 18 November. After breaching the patterned uptrend, bears ensured to keep the current price below its 4-hour 50 SMA (white), 200 SMA (red). However, the price managed to stay above its 20-SMA (yellow). The reason for that is the 10.57% three-day ROI triggered by the bulls since 18 November. This rally, however, occurred on low trading volumes and thus depicting a weak bullish move. 

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At press time, SOL traded at $212.9675. The RSI revived and exhibited neutral sentiments by wavering around the half-line. Although the DMI preferred the bears, AO and MACD hinted at their near-term decreasing power. Nevertheless, the ADX displayed a weak directional trend.

Tezos (XTZ)

TradingView, XTZ/USDT
This drawback can be reflected in its price trajectory as the bears successfully breached multiple resistance points. Thus, the digital currency lost over half of its value in 45 days. This downturn led to XTZ touching its ten-week low on 18 November.

However, the price action did not fail to oblige the trend as the price bounced from the lower channel after a 13.85% three-day ROI.

At press time, XTZ traded at $5.451. The RSI stood at the 56-mark after swaying over 28 points in two days. Also, the DMI chose the buyers while AO confirmed the bullish vigor. The price action might have room for a slight surge until it falls back into its two-month trend.

EOS

TradingView, EOS/USDT

Since 11 October, the digital currency saw a 20.9% rally over the next month. Consequently, EOS hit its seven-week high on 10 November after a sustained bullish rally.

However, the price action obliged the trend by stepping back into it. The altcoin saw a 27.74% withdrawal over the next week until it hit its three-week low on 18 November. 

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At press time, EOS was trading at $4.278. After a steady downtrend, RSI displayed recovery signs as it headed north and stood near the midline. Additionally, the DMI preferred the bearish vigor. However, MACD and AO showed possible signs of easing bearish power.

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