The cryptocurrency Tellor (TRB) has once again reclaimed a crucial support level, according to crypto analyst Ben Walther (@ben__crypto23). Despite Walther’s previous bearish predictions, Tellor has exhibited resilient bullish momentum, invalidating the expected correction to the $90 level.
Walther’s analysis highlights several key factors contributing to Tellor’s recent resurgence:
- Bullish Reversal Pattern: Tellor printed a “picture-perfect Morning Star Doji,” a candlestick pattern often signaling a trend reversal. In this case, the pattern proved accurate, as Tellor promptly reversed its downward trajectory.
- Support Reclamation: After a period of consolidation, Tellor successfully reclaimed the $115 support level, a crucial milestone for the cryptocurrency’s bullish aspirations.
- Successful Retest: Following the initial reclamation of the $115 level, Tellor underwent a retest on the subsequent day, further solidifying the support level’s significance.
- Favorable Technical Indicators: Walther notes that the technical indicators for Tellor appear predominantly bullish or neutral, suggesting a potential continuation of the upward momentum.
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +Read Also: Analyst Reveals 3 Factors That Will Catalyze Notcoin (NOT) Crypto Price to New Heights
Based on these developments, Walther now anticipates Tellor to retest the upper boundary of its current trading channel, ranging between $140 and $150. This prediction represents a potential upside of approximately 17% from the current price levels.
Acknowledging the volatility of the cryptocurrency market, Walther expressed cautious optimism, stating, “Let’s see if this prediction works better than my last one.”
As the crypto community closely watches Tellor’s price action, this unexpected resurgence serves as a reminder of the unpredictable nature of digital asset markets and the importance of staying vigilant in one’s analysis.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
