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.