Telcoin is a blockchain-based remittance platform that facilitates instant digital money transfers at affordable costs. TEL is the native token of this ecosystem. As per recent news, the TEL price rallied massively due to a protocol upgrade and a layer-2 transition that allowed users to trade on Quickswap. The TEL technical analysis is as follows: Past Performance On April 29, 2021, TEL started trading at $0.007. On May 5, 2021, TEL closed at $0.028. Thus, in the past week, the price has skyrocketed by a whopping 300%. In the last 24 hours, TEL has traded between $0.028-$0.034. https://ift.tt/3hbNTiN Day-Ahead and Tomorrow Currently, TEL is trading at $0.034. The price has increased from the day’s opening price of $0.028. Thus, the market seems to be uptick. Both the MACD and signal lines are positive. Moreover, a bullish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bullish. Hence, we can expect the price to rise further. Currently, the RSI indicator is at 58%. It has just fallen from the ‘overbought’ region. While buying pressures continue to be high, selling pressures are slowly mounting. Hence, the price may rise further, but an intermittent price pullback cannot be ruled out. The OBV indicator is upward sloping. Thus, buying volumes are much higher than selling volumes. High buying activity will exert upward pressure on the TEL price. TEL Technical Analysis All three oscillators have given bullish signals, but there may be intermittent price pullbacks amidst a rising trend as a part of the price correction process. Currently, the price is above the first Fibonacci pivot resistance level of $0.032. It is soon likely to surpass the second and third resistance levels of $0.036 and $0.050, respectively. Presently, the price has tested and broken out of the 23.6% FIB retracement level of $0.033. Thus, the bulls are strong, and the price uptrend is likely to continue till day end and tomorrow.
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