2024-5-3 14:15 |
Tellor (TRB), a decentralized oracle platform, has experienced a significant price surge, with its value increasing by 42% in the past 24 hours. According to our analysis, TRB has broken out of a descending channel, signaling strong bullish momentum and the potential for further growth.
The breakout from the descending channel is a key technical indicator that suggests a shift in market sentiment and increased buying pressure. As TRB continues to trade above the channel’s upper boundary, it may attract more investors and traders, further fueling its upward trajectory.
Source: Tradingview Analyst Predicts Massive Move for TRB, Potential 315% IncreaseJavon Marks, a prominent crypto analyst, has recently shared his insights on Tellor’s price action. In a tweet, Marks highlighted that TRB is now displaying major strength after holding a bullish pattern. He predicts that TRB could be preparing for a massive move, potentially increasing by more than 315% to reach $261 or higher.
Marks’ analysis is based on the observation that TRB has successfully held a bullish pattern, which suggests that the cryptocurrency has established a strong foundation for future growth. If TRB continues to follow this pattern and maintains its bullish momentum, it could indeed experience a significant price increase in the coming weeks or months.
According to his chart analysis, the bulls successfully rebounded from a significant support level around $45. He firmly believes that maintaining this level will be sufficient to trigger a price spike. Additionally, after a prolonged upward movement, the price has started to retrace in December. The chart formation indicates that the retracement points may have concluded, signaling the imminent arrival of a major spike.
It is worth noting that yesterday’s bullish spike was the longest observed since January, demonstrating a surge in trading volume associated with the optimism for an extended upward trend.
Also read: Top Analyst Reveals Leading Cryptocurrency Gainers in Non-Empty Wallet Growth: Toncoin (TON) and Dogecoin (DOGE) Take the Lead
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Show more +Show less – Tellor’s Price Performance and Market SentimentOver the past 24 hours, Tellor has exhibited a wide trading range, with a low of $47.97 and a high of $77.70.
The 43.41% price increase in the past 24 hours has also contributed to a growing positive market sentiment around Tellor. As more investors become aware of TRB’s bullish potential, it may attract additional capital, further supporting its price growth.
With Tellor’s impressive 42% price surge, breakout from the descending channel, and analysts predicting a potential 315% increase, the cryptocurrency appears to be well-positioned for further growth.
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Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions.
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Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
The post Why Is Tellor (TRB) Price Up By 42%? This Could Be the Beginning of Massive Upward Spikes appeared first on CaptainAltcoin.
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