TET Price Prediction: Will It Extend to the $50 Mark Soon?

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  • The Tectum crypto price has risen by 12% in a week.
  • It is trading over the significant moving average, showcasing a bullish trend.

The Tectum (TET) price has witnessed slow and steady gains for the past few months. The TET crypto price has been in a bullish trend for the past two months and recorded an all-time high of $45.33 on January 11, 2024. From the beginning of January, the Tectum price has performed negatively and faced resistance from a declining trendline.

It is continuously defending the 20-day moving average and has risen by 11% in a few days. Currently, the price has reached the trendline and is facing resistance.

Current Price – $34.00 Price Prediction – $32.28 (-2.68%)


Market cap – $167.20M Fear & Greed Index – 80 (Extreme Greed)


Volume – $2.67M Green Days – 17/30 (57%)


Sentiment – Bullish 100-day EMA – $24.24


Volatility – 7.99% RSI – 60.66


The Tectum price is trading at $34.00 with an intraday gain of 1.37%. This cryptocurrency’s market capitalization is $167.20 million, and the trading volume is $2.67 million for the last 24 hours.

According to our technical analysis, the Tectum crypto price is predicted to drop 2.68% to reach $32.28 by March 05, 20204. The fear and greed index is 80 (Extreme Greed) and volatility is 7.99%. Crypto’s price has remained bullish for 17 days in the last 30 days, indicating a bullish grip.

The TET Price Has Formed a Symmetrical Triangle

TET
BINANCE: TET/USD 1-Day Chart By TradingView

The Tectum Token price has formed a symmetrical triangle on a daily time frame and is struggling between the upper trendline and the 20-day moving average. It is currently near the resistance level and it formed a long-legged doji candlestick yesterday, which indicates neutral sentiment.

Bulls may dominate if the TET price gives a breakout and surpasses the $40 mark. If the buyers remain bullish, the price will record a new all-time high and may extend to the $50 mark soon.

On the other hand, if the Tectum crypto price slips below the 20-day moving average, it may easily melt to the 100-day moving average. However, if the price fails to defend the 100-day moving average, buyers will lose momentum, and sellers will become confident, which may lead to bearish momentum.

The TET Crypto Price Prediction on 4-H Timeframe

TET
BINANCE: TET/USD 4-H Chart By TradingView

In a 4-H time frame, the Tectum price has been bullish and is rising by taking support on the trendline. The price has reached the last-swing high, dropped by 7%, and melted to the 20-day moving average. This fall can be converted into a pullback and continue the bullish trend.

Buyers may gain momentum if the price surpasses the last swing high and sustains. That may lift the price to the $50 mark in a few days. Suppose the price slips below the 20-day EMA; a bearish move for the short term can be expected.

Conclusion

Based on the technical analysis, the Tectum crypto price has been in a bullish trend for the past two months and has formed a symmetrical triangle. If the price manages to surpass the $40 mark and sustain, it may extend to the $50 mark soon. However, a short-term bearish move can be expected if the price slips below the 20-day moving average.

Technical Levels

Resistance: $36.00 & $44.00

Support: $29.50 &  $21.20

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.

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