- The TEL token price jumps higher in the falling channel and may shortly reach the top.
- The opposition from the 200-day EMA resists the growth and struggles with the bulls.
- The pair TEL/BTC is trading at 0.0000004966 BTC with an intraday gain of +13.00%.
TEL token prices have been falling for many months. It quickly reached the support trendline at the bottom of the falling track. The solid bearish signal meant that the trendline was at high risk of being broken.
Nonetheless, the support trendline was able to stop the price decline and propel the price higher. As a result, the support led to a 42% rise in token prices within days. Since then, TEL coin prices have risen higher, with some reports indicating they may be close to $0.010.
The pivot points standard suggests that the TEL token price may find support at $0.0075. However, if the uptrend continues, pivot resistance levels of $0.019 and $0.028 could cause the price to drop.
TEL token prices are currently $0.0161, with a 29.45% drop in intraday trading volume. In addition, the telcoin market capital has increased by 14.76% over the last 24 hours.
TELCOIN Token Price Struggles To Continue Uptrend
TEL tokens’ 4-hour technical chart shows that the coin price has moved higher following the formation of a bullish-engulfing candle close to the support trendline. In addition, bullish candles have formed above the resistance of 50-period EMA.
Investors could see the coin’s price rise to $0.025 before it meets resistance to the 200-period EMA. Conversely, the coin price could drop to $0.10 if the bullish uptrend suddenly ends.
The relative strength indicator predicts a steady increase in bullish momentum as the RSI moves from the oversold zone to the neutral area.
The ADX indicator signals a rise in trend momentum.
Conclusion- TEL token prices rise higher in the falling channel with the push of support trendline. However, the token price may shortly reach the resistance trendline of the falling channel if the price manages to sustain above the 200-day EMA.
Support – $0.012 and $0.010
Resistance– $0.025 and $0.040