Hey Binance Square fam! š
Tellor (TRB) is making waves in the crypto market, showing strong bullish momentum and catching the attention of traders worldwide. Let's dive into the latest developments and see what makes TRB a token to watch!
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š Technical Overview
Current Price: ~$49.57 USDT
24h Change: +1.34%
Trend: Attempting to break above key trendline resistance
Momentum: MACD shows a weak bullish crossover, but still below the zero line, indicating early-stage recovery
RSI: Neutral at 50.60, suggesting no overbought or oversold conditions
Volume: Increasing, which is a positive sign for a potential breakout
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š Breakout Scenario
TRB is currently testing a key trendline resistance. A confirmed breakout above this level, especially with strong volume, could lead to a significant bullish rally. Potential targets post-breakout include $48.95 and $60, representing gains of approximately 78% from the current price.
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š”ļø Support & Resistance Levels
Immediate Resistance: $46.74 ā $47.68 (aligned with EMA99 and past rejection)
Strong Daily Support: $44.85 ā $44.98
Intermediate Support: $24.47 ā $19.47
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ā ļø Bearish Scenario
If TRB fails to break above the trendline resistance and gets rejected, a correction down to $24.47 (around ā14%) is likely. This could act as a right shoulder retest, potentially offering a good entry point.
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š§ Final Thoughts
TRB is at a critical juncture, attempting to break above a significant trendline resistance. A successful breakout could signal a strong bullish move, but traders should watch for confirmation with increased volume. As always, ensure you do your own research and manage risks appropriately.
Happy trading! šš
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*Disclaimer: This is not financial advice. Always conduct your own research before making investment decisions.*
