Telcoin Smashes Through Short-term Resistance as TEL Price Skyrockets +40%

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Telcoin is up 44.12% today against the US Dollar
• TEL’s surge follows a massive increase in the token’s trading volume on KuCoin
• TEL/BTC increased by 36.49% today
• TEL/ETH increased by 32.78% today
• Telcoin is currently trading 4.18% below our prediction on Nov 28, 2022
• Telcoin gained 97.74% in the last month and is down -85.42% since 1 year ago

Telcoin (TEL), an Ethereum-based project aiming to disrupt the $700 billion remittance market via blockchain-powered mobile payments, saw a massive surge in the price of its native token, TEL, on Wednesday.

TEL’s impressive +40% price surge comes off the heels of a massive increase in the token’s trading volume. Whereas daily CEX volumes for the TEL token hovered around the $1 million to $1.5 million range for the better part of the last two weeks, TEL saw more than $5 million in trading volume today. Most trading took place via KuCoin’s TEL/USDT trading pair, which accounted for $3.5 million of the entire volume.

The Telcoin community sees the recent price surge as a sign of more bullish Telcoin price activity to come. One Twitter user, for instance, noted that TEL breaking short-term resistance at $0.00177 was crucial. “#TEL has now broken out of its decreasing volume and attacked. All we need now is for this to hold and for follow through volume tomorrow,” he added after TEL effortlessly broke its resistance. The next big resistance level reportedly stands at $0.00262.

TEL price is expected to rise by 4.36% in the next 5 days according to our Telcoin price prediction

Telcoin price today is trading at $ 0.002408 after gaining 44.12% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 35.50% in the same time period. TEL performed well against BTC today and recorded a 36.49% gain against the world’s largest cryptocurrency.

According to our Telcoin price prediction, TEL is expected to reach a price of $ 0.002513 by Nov 28, 2022. This would represent a 4.36% price increase for TEL in the next 5 days.

TEL Price Prediction Chart

Buy/Sell Telcoin

What has been going on with Telcoin in the last 30 days

Telcoin has been displaying a positive trend recently, as the coin gained 97.74% in the last 30-days. The medium-term trend for Telcoin has been bullish, with TEL increasing by 44.22% in the last 3 months. The long-term picture for Telcoin has been negative, as TEL is currently displaying a -85.42% 1-year price change. On this day last year, TEL was trading at $ 0.016515.

Telcoin reached its all-time high price on May 11, 2021, when the price of TEL peaked at $ 0.064721. The current TEL cycle high is $ 0.002583, while the cycle low is at $ 0.001168. TEL has been displaying high volatility recently – the 1-month volatility of the coin is at 16.92. Telcoin recorded 18 green days in the last 30 days.

Telcoin technical analysis for today — Nov 23, 2022

The sentiment in the Telcoin markets is currently Neutral, and the Fear & Greed index is reading Extreme Fear. The most important support levels to watch are $ 0.001788, $ 0.001462 and $ 0.001275, while $ 0.002300, $ 0.002488 and $ 0.002813 are the key resistance levels.

Neutral sentiment for Telcoin

20 indicators are currently signaling a bullish prediction for Telcoin, while 10 indicators are showing a bearish forecast. With 67% of indicators favoring a positive prediction. This results in an overall Neutral sentiment for Telcoin.

Crypto market is currently experiencing Extreme Fear

Currently, the Fear & Greed index is at 22 (Extreme Fear), which signals that investors have a negative outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Telcoin moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Telcoin is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Telcoin is at 58.61, suggesting that TEL is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Telcoin over the last 50 days. Currently, Telcoin is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the TEL closing price for the last 200 days. TEL is now trading above the SMA 200, signaling that the market is currently bullish.

The bottom line about this Telcoin prediction

After considering the above factors, we can conclude that the current forecast for Telcoin price prediction is Neutral. TEL would have to increase by 4.36% to hit our $ 0.002513 target within the next five days. Moving forward, it will be important to monitor the TEL market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Telcoin price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

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