Telcoin (TEL) was established in 2017 on Ethereum-based blockchain technology. The main aim is to bridge the gap between crypto, blockchain, and the telecommunication industry. It aims to provide a better billing platform than an existing one. The following TEL technical analysis will predict the price trends for the next two days: Past Performance In the past week, TEL has traded between the low of $0.01737 and the high of $0.03997. https://ift.tt/3wCZ3S8 Day-Ahead and Tomorrow Currently, TEL is trading at $0.03594, which is 2.34% lower than its previous day’s high. This gives us a bearish outlook for the day ahead. The decrease in volume by 21% suggests a trend reversal. The MACD line on the 45-min chart has crossed over the signal line and is entering the negative zone. It is near the zero range, traders should watch out at this level if it enters the negative zone it will confirm the bearish trend. $0.0339 has acted as strong resistance in the past, in this case, it will be a support level to look out for. The Relative Strength Index is at 45% confirming the sellers’ dominance. If the same selling pressure is continued it can enter the oversold zone. It is a good position to short. TEL Technical Analysis TEL has been following an uptrend in the past few days, with high buying pressure. If the price breaks the support level of $0.0358, it will highlight the next support level which is $0.0339. The broken price will indicate a trend reversal, traders can take a short position, keeping a target at $0.0321 with a stop loss at $0.0349 In case the price breaks the resistance at $0.0399, traders can take a long position. Then the traders can look at a target of $0.0453 and the stop loss to be used should be $0.0379.
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