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Tezos [XTZ] Crypto: Poised for a Correction?

Tezos [XTZ] has gained significantly following an announcement by the staking platform Everstake supporting the token. However, after a notable upside rally, XTZ has reached a level where it has historically experienced selling pressure and price declines.

Key Statistics:

1. XTZ price: $1.37 (4.5% decline in 24 hours)
2. Trading volume: 31% increase in 24 hours
3. Relative Strength Index (RSI): 74.5 (overbought zone)
4. Exchange net flow: Consistently positive since November 22

Analysis:

XTZ's rally driven by:

1. Everstake's support announcement
2. Increased participation from traders and investors

Projection:

1. Potential target: $2.10 (40% increase if XTZ breaks out above $1.50)
2. Support level: $1.13
3. Potential price correction: Indicated by RSI and on-chain metrics

Risks and Challenges:

1. Selling pressure
2. Overbought conditions
3. Regulatory uncertainty

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