Telcoin (TELUSD) has been trading within a Channel Up pattern since the September 08 2024 Low. The price has seen strong growth last week but is being corrected the past two days. Technically, this is a short-term pull-back within the long-term bullish trend.
In fact, based on the first phase of the pattern, this is the Re-accumulation stage, which in the past has followed the first rally after the main Accumulation Stage. As long as the 1D MA50 (blue trend-line) supports, we expect TEL to resume the uptrend and, similar to November 2024, complete the Bullish Leg on the 5.0 Fibonacci extension. Our Target is 0.02850.
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