Will the Tezos cryptocurrency return to uptrend?

Tezos is still among the top 50 cryptocurrencies although it has slipped nearly 90% from its 2021 peak. Developers, however, are still developing blockchain:

• Tezos created Electis i.e. an e-voting system using blockchain technology. With the system, the developers have established partnerships with the UN, among others. Electis, provides an automated, anonymous, encrypted and real-time observable voting system and is one of the main projects the developers are improving. More than 80 universities are using the program, and the technology has been tested by French offices since October 2021;
• The Tezos conference held in Paris revealed three United Nations organizations that are using Electis technology. These are YOUNGO i.e. an electoral system created by youth, Women and Gender Constituency (WGC) and SDG7 Youth Constituency. Interest in blockchain and cryptocurrencies is growing among young people, and despite the powerful volatility of digital asset valuations, supports the 'cryptocurrency generational boom' hypothesis;
• The network currently processes 1,000 transactions per second and, like Cardano, intends to introduce the capacity to process 1 million transactions per second versus the 65,000 possible under VISA and the still modest 30 on the Ethereum blockchain. The continued adoption of Tezos and the technology behind it could favor the cryptocurrency's rising valuations. On the other hand, the cryptocurrency has shown massive weakness losing nearly 90% of its valuation making the bearish sentiment likely to last longer.

Tezos cryptocurrency, H4 interval. The cryptocurrency has risen more than 20.0% this week, but buyers are struggling to break above the resistance at $1.76, which is marked by the previous price reaction and the 50.0 Fibonacci retracement of the last downward wave. As long as the price is below the aforementioned level, another downward impulse towards local support at $1.62 may be triggered. Source: xStation5