Is It Safe to Buy Tellor (TRB) Token after a 3200% Rally?
The post Is It Safe to Buy Tellor (TRB) Token after a 3200% Rally? appeared on BitcoinEthereumNews.com.
The rising Tellor token price is poised for a minor pullback to recuperate the exhausted bullish momentum. Published 12 hours ago The Tellor (TRB) token, a decentralized oracle protocol, has shown remarkable resilience and recovery in the past two weeks, successfully navigating through market uncertainties. This resurgence began at $73 and has since soared by 236%, reaching a remarkable $247.5. This upturn was marked by the breach of a long-anticipated cup and handle pattern, signaling a pivotal trend reversal. Despite this, a recent analysis by a crypto expert on the Cilinix Crypto YouTube channel raised concerns about potential market manipulation, advising caution for new investors in this asset. Also Read: Top Crypto Analyst Compares Investment Potentials Of Bitcoin (BTC) & Ethereum (ETH) Is TRB Price Heading to $300? The rising TRB price could face potential supply pressure at $285, followed by $300 The positive alignment in daily EMAs(20, 50, 100, and 200) reflect an bullish trend sentiment The intraday trading volume in TRB is $165.4 Million, indicating a 26% loss. Tellor (TRB) Token| TradingView Chart In the broader context of a bullish crypto market and heightened buyer accumulation, the Tellor token price embarked on a robust recovery in late August. Starting at $9.2, the coin’s value skyrocketed by 3268%, currently trading at $248.2. This period also saw the development of a renowned bullish reversal pattern, the Cup-and-Handle, often observed at major market lows and indicative of strong buyer accumulation and the onset of a new uptrend. On December 21st, the TRB price broke above the neckline resistance of this pattern at around $142, further fueling market demand. According to this chart pattern, the TRB price might climb an additional 15%, reaching a prospective target of $286.8. If the recovery extends, the coin could potentially reach as high as $430. Crypto…
Filed under: News - @ December 31, 2023 2:14 am