- The trading volume of TEL token in the last 24-hour at the time of writing this article is -3.39%
- The Price of TEL/BTC and TEL/ETH at the time of writing this article is 0.0000002901 BTC and 0.000004131 ETH
- 50MA below the 100MA
Long term view:-
In the daily chart time interval, we can see the price is near the Support level of $0.01752. We can see the bears have tried to break the Support a lot of times, but the bulls were successfully able to bounce back the price. So let’s look at the technical indicator to see if the price will break the Support level or not.
Firstly, we can see the MACD, which is showing red histograms as the MACD line is below the signal line, and there is no sign that the lines will change their directions. In addition to that, the RSI is in the neutral zone near 46, and the RSI line is pointing towards the overbought zone of 70, which means the bulls are winning the fight against the bears. Lastly, we can see the Moving average as the 20MA is above the 100MA and 50MA, but the 50MA is below the 100MA and 20MA, which is a bearish sign.
Short term view:-
In the 4-hour time interval, we can see the price cannot break the resistance of the 20MA, which acts as a supply zone of the token. The MACD shows the red histograms as the MACD line is below the signal line, but the MACD line is changing its direction and heading towards the signal line. If crossed, which is a buy signal for the bulls, we will see a good volume from the bulls. In addition to that, the RSI is in the neutral zone near 44, and the RSI line is pointing towards the overbought zone of 70, which means the bulls are winning the fight against the bears.
In the Moving average, the 20MA is below the 50MA, and the 100MA and the 50MA are below the 100MA.
Conclusion:-
Looking at both the long term and short term, we can see the price is near the Support and will be able to sustain the Support, as the RSI in both daily and 4-hour time charts is pointing upward, which means the bulls are putting a lot of pressure. And the MACD is also crossing the signal line, which is a buy signal so that the price will sustain the Support.
RESISTANCE:- $0.01931,$0.02501
Support:- $0.01738,$0.1602