The Currency Analytics
By Steven Anderson
The Federal Lawsuit on Tezos continues. Alex Liu of Tezos Commons stated that contrary to the suggestion on the social media about the lawsuit as being over.
“Even though that would certainly be great news for the Tezos community, unfortunately, that’s not true.”
There has been “no significant movement” on the Federal Law Suit. The suit has been rescheduled for early next year.
The Federal Lawsuit considers the Tezos to be a security. The US Securities and Exchange Commission did not file the suit.
Several projects have given in to their opponents, and they arrived at quick settlements to gain regulatory approval; however, Tezos is not likely to give up to its opponents.
The SEC inevitably places restrictions on securities investment; however, there have been a lot of misconceptions, and the SEC is not investigating Tezos.
Apart from the suit, Tezos had a great year with the Year-To-Date (YTD) return of 185%. The previous class-action suit did not prevent the token from getting listed in…
Decisions on the ambiguous outlooks concerning the tokens are made considering the support and resistance points set by the Fibonacci retracement level.
The overall sentiment is in favor of Tezos. There has been a significant increase in volume.
If the price of the Tezos would move past the 23.6% on the Fibonacci retracement level, the token will break out of the bull flag pattern as observed on the 1-week chart.