It’s been a tough month for the crypto market. Prices have been bumped from side to side in an ever-changing pattern. But there have been some positive signs in the crypto world, with the recent price jump in Tellor (TRB) . What is Tellor? Tellor is a blockchain-based platform that is being used for the effective management of the global visual content. Tellor is powered by a decentralized network of smart contracts that allows users to develop, publish and monetize content.
Another altcoin has entered our scope of analysis. Tellor (TRB) is the coin we are analysing today. Tellor was forked from TellorChain back on the 19th of July 2018. At the time of the fork, the price was $0.022. The coin has been trading since the fork at a price of $0.042. Tellor is a Proof of Work cryptocurrency, with a current supply of 1,000,000,000,000,000,000. The coin is currently trading with a market capitalisation of $23,775,832.
The Tellor coin is a product of a company called Tellor Entertainment. Tellor Entertainment is a relatively new company, founded in 2017, but it has already created an interesting product, Tellor. Tellor is an entertainment platform on which people can earn Tellor coins. The Tellor coins are used for products and services through the Tellor platform.
We utilize historical data, price analysis, RVOL, MA, and other information about TRB to evaluate the cryptocurrency’s future trend in Technical Analysis of Tellor (TRB) for 2021.
Tellor is a decentralized oracle network that allows Ethereum smart contracts to connect to other data sources in a safe manner. TRB is an Ethereum currency that drives the Tellor network and promotes accurate external data reporting.
The native token of the Tellor is Tellor Tributes (TRB). They’re used to encourage data miners to give information by offering basic rewards and tips depending on user requests. They’re utilized to resolve disputes over legitimate data, as well as to propose and vote on system improvements suggested by token holders.
Current Market Situation for Tellor (TRB)
The TRB price is $51.80 at the time of writing, according to CoinGecko, with a 24-hour trading volume of $26,934,905. TRB, on the other hand, has fallen to 2.13 percent in the past 24 hours.
In addition, there are 1,922,949 TRB coins in circulation. TRB is currently traded on Binance, Coinbase, OKEx, Huobi Global, and ZT.
Tellor (TRB) Technical Analysis 2021
Tellor (TRB) is currently ranked 404th on CoinGecko. TRB may be pushed to new heights by current development and improvements. Let’s take a closer look at the TRB technical analysis for 2021. Tellor (TRBdaily )’s time frame chart is given below.
Ascending Channel Trend Pattern in TRB/USDT (Source: Tradingview)
An ascending channel is defined as the price movement that occurs between two parallel upward sloping lines. This price pattern is defined by higher highs and lower lows. Connecting the swing lows with a lower trend line and the swing highs with an upper channel line forms an ascending channel.
A breakthrough above an ascending channel may signal that the rising trend will continue, while a breakdown below an ascending channel could signal that the trend will shift.
TRB is now trading in a $51.80 range. If the price breaks through the $72.60 trend line resistance level, it will continue to rise to the $233.30 level. If the trend continues to the downside, the support level of $30.90 will be reached.
RSI Tellor (TRB)
TRB’s relative strength index (RSI) is shown in the chart below.
The RSI is still at 52.74, as seen in the chart above. This indicates that the price of TRB is neither overbought nor oversold. This demonstrates the need of traders trading cautiously, since a big price reversal may occur.
RVOL Tellor (TRB)
The Relative Volume of TRB is shown in the graph below. It’s a metric that shows traders how the current trading volume has evolved over time in comparison to the prior trading volume.
TRB’s RVOL is now below the cutoff line, indicating that it is one of the weaker players in the current trend.
Moving Average Tellor (TRB)
The figure below depicts Tellor’s Moving Average (MA). MA aids traders in identifying patterns.
TRB is now in a bullish trend. TRB price, on the other hand, is trading near to the 50 MA (short-term), and it is currently trading between the 50 MA and the 200 MA. TRB may be able to rise over 50 MA and 200 MA (long-term) in the near future.
It fully changes to a bullish condition if it rises over the 50 MA level. Furthermore, Trend reversal is a distinct possibility at any moment.
Comparing the Price of Tellor (TRB) to the Price of Bitcoin
The price comparison between TRB and BTC is shown in the graph below.
The trend of the BTC can be seen on the chart, and TRB is going in lockstep with the trend. This means that when the price of BTC rises or falls, the price of TRB rises or falls as well.
With the continuing improvements and updates to the TRB platform. Tellor has a bright future in the cryptocurrency industry. TRB, on the other hand, has the potential to soar to new heights.
TRB price forecast for 2021 is $233.30, which is bullish. As previously said, it has the potential to reach tremendous heights, but it may also reach $240 if investors believe that TRB is a solid investment in 2021.
What exactly is Tellor?
Tellor is a decentralized oracle network that allows Ethereum smart contracts to connect to other data sources in a safe manner.
TRB may be purchased from a variety of sources.
TRB is traded on Binance, Coinbase Exchange, OKEx, Huobi Global, and ZT, among other cryptocurrency exchanges.
Is TRB on the verge of breaking a new all-time high?
With the TRB platform’s continuing advancements and enhancements, it has a good chance of achieving its ATH shortly.
Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.
Dear crypto traders! Check out the latest crypto news for Tellor (TRB) in the upcoming weeks and months. In this article, we will discuss about the future price predictions, technical analysis and forecasts for Tellor (TRB)… Read more about tellor price prediction 2021 and let us know what you think.
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