- TEL Token price is currently amid a breakout point that could potentially invite a 45% upswing
- The press time price of TEL/USDT is $0.02 established on the back of a 5% increase in the past 24 hours
- The impending EMA crossover would be the ultimate buying opportunity for investors
Telcoin to finally break out after flying under the radar since the July crash
Telcoin, which is known for not being committed to following the footsteps of the broader cryptocurrency market has once again captured the eyes of multiple investors. The crypto asset spent nearly a month fluctuating inside a massive ascending triangle pattern is finally about to breakout.
While the rest of the altcoins rallied parabolic since the low of July 20th, TEL price resonated inside this continuation pattern. Despite the swift variations in trend, the current price of Telcoin stands at an impressive 116% from the July low.
In an attempt the break above the critical resistance of $0.21, the bulls are now aiming to reclaim that level as a reliable support cushion. The presence of sufficient buying pressure adds credence to the possibility of a successful breakout.
The bullish structure on the daily chart reveals a perfect entry for bulls who intended to go long on this asset. The rally’s strength has uplifted the critical EMAs to transpire a golden cross and be in sync with the current price trend. This reveals the fact that TEL Token price will target a much higher price in the upcoming weeks.
For the day ahead, a decisive close above the resistance of $0.21 will be accompanied by recuperation of buyers, which will be in the run to capture the target of $0.31. This level stands at an elevation of 45% upswing from the current price.
While the daily price chart does unveil the Telcoin price is contemplating a massive upswing, the exhaustion of bulls will lead to disruption of the momentum. Short-term profit booking investors will be quick enough to dump their assets at the resistance levels of $0.23 and $0.27 ahead. Nonetheless, the Telcoin price outlook is extremely bullish, followed by the support of a bullish crossover amid critical exponential moving averages.
SUPPORT : $0.19
RESISTANCE: $0.21