Tezos long-term Price Analysis: 26 November
Tezos‘s price seemed tense after suffering a brutal drop of 26% in 12 hours. The aforementioned drop was a result of Bitcoin’s 12% drop over the same timeframe. While the correlation of altcoins with Bitcoin has predominantly existed for a long time, it had fallen over the last quarter. Then again, intense Bitcoin drops are bound to drag altcoins like Tezos down.
(https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2020/11/26111915/download-18.png)
Tezos’s price movement since before October fit the exact accumulation pattern developed by Richard Wyckoff. The price didn’t form a spring/test, however, it managed to break higher [45%] from its LPS, as mentioned above.
Learn more about the analysis here. (https://eng.ambcrypto.com/tezos-long-term-price-analysis-26-november/)