- Tezos price briefly rose above $0.63 before retreating below $0.59.
- Momentum appeared to fade despite news that TenX added XTZ to its holdings.
- From a technical perspective, a break below $0.50 could trigger further pain for bulls.
Tezos (XTZ) saw a short-lived uptick earlier this week amid positive corporate adoption news, climbing above $0.63.
However, with major cryptocurrencies struggling, the pullback toward the $0.59 lows has put bulls under growing downward pressure.
Sellers may target a fall to a key support level, and broader market uncertainty suggests additional weakness could follow.
Why did XTZ rise while top coins fell?
Bitcoin slipped below $90,000 on Tuesday, dragging much of the crypto market down as liquidations spread through the ecosystem.
Yet while ETH, XRP and Solana dropped, Tezos bucked the trend, briefly pushing above $0.63.
Gains continued into early Wednesday as the market absorbed announcements from TenX, a publicly traded blockchain infrastructure company.
TenX disclosed that it had acquired 5.54 million XTZ tokens at an average price of $0.5868 each.
The purchases were made on open markets and through over-the-counter trades executed between January 2 and January 19, 2026.
Valued at roughly $3.25 million and funded with cash from a financing round in August 2025, the acquisition forms part of a strategic staking partnership with the Tezos Foundation.
According to the disclosure, the agreement aims to bolster TenX’s validator operations on the Tezos network, generating staking returns of approximately 8–10% while enhancing network security and decentralization.
“This is a long-term value decision, not a short-term trade,” said Mat Cybula, CEO of TenX.
He added, “Tezos is built for sustainability and upgradeability, and we want TenX to align with ecosystems that reflect those qualities.”
Tezos price outlook – Can bulls hold above $0.50?
The technical picture for XTZ shows a fragile balance on both daily and weekly charts, with $0.50 serving as a critical psychological and structural support.
Momentum indicators, including a daily RSI around 56, suggest the upside case remains possible.
However, the MACD points to potential selling pressure, which could be amplified by elevated volatility across altcoins.
On the weekly chart, the longer-term bullish trend remains intact.
On the daily timeframe, XTZ sits above $0.59 but faces resistance at $0.63.
The 50-day EMA near $0.54 provides significant support, yet a failure in this zone could accelerate losses toward lower levels.
Bulls must defend $0.50 to avoid further downside that could push prices toward $0.42.
Tezos last traded near those levels in late 2025, when prices declined after breaking the 50-day EMA around $0.63.