Tezos (XTZ) Important Alert Issued by Crypto Wallet Provider Ledger

Crypto wallet provider Ledger brings to the attention of Tezos (XTZ) holders and users an issue they might face when interacting with Ledger Live, a one-stop shop to buy crypto, hold assets and manage NFTs.

According to a tweet, Ledger Live is experiencing issues with the Tezos blockchain. This causes some features to not function properly.

In this regard, Ledger says that undelegating XTZ might not get broadcasted and transactions subsequently dropped. It says it is currently working on a fix.

In the meantime, users can safely use Galleon with their Ledger accounts to end their XTZ delegation. Galleon is a Tezos blockchain cryptocurrency wallet with extensive support for Tezos-specific functions.

Tezos is a blockchain network that employs a form of proof-of-stake consensus known as liquid proof-of-stake. This means that network validators, known as "bakers" in Tezos, play an important role in network governance by voting on protocol changes or updates.

XTZ price action

Tezos (XTZ) was down 3.39% in the last 24 hours to $0.625 at the time of writing. XTZ has been declining for the majority of October, except for two days when it saw a significant increase.

On Oct. 10, XTZ experienced a strong surge to highs of $0.735. On Oct. 16, it had a similar surge, though only to highs of $0.68.

XTZ plummeted to lows not seen since August in today's session, reaching $0.62. However, if a double-bottom formation validates at this level, XTZ could witness a price rally in the coming days.

In this scenario, bulls may aim for $0.67 in an attempt to turn the daily MA 50 into support. If the surge continues, Tezos may aim for $0.738 next.

On the other hand, if bears seize control and bring the XTZ price below its present level, the $0.5 level may be the next target.