Why Is Tellor’s TRB Surging? Major Resistance Broken, Price Is ‘Inevitably’ Going to This Level Next

Tellor’s native token, TRB, has seen a significant price surge over the past few days with a 30% surge today and 40% in the last few days. This comes after major resistance levels were broken, leading some analysts to predict further inevitable gains.

Recent Listing Sparks Interest

Earlier this week, Polynomial Protocol announced a new market listing for TRB on their trading platform. According to their tweet, traders can now trade TRB perpetually with up to 25x leverage. This new listing likely sparked additional interest and volume for the token.

Technical Analysis Predicts Further Gains

Crypto analyst Densons recently posted a bullish technical analysis on TRB. He noted that global resistance has been broken and retested. As he states: “Coming to first target inevitably with 99.99% probability.”

“$TRB #TRB #TRBUSDT global resistance broken and retested, coming to first target inevitably with 99.99% probability. (Potential of 24.15%)” – Densons

Based on his chart, the broken resistance turned support is at $165. The first target is $200, and if that level breaks, the second target is $250. With TRB presently trading around $169, this analysis suggests significant upside still lies ahead.

However, it’s important to exercise caution when following such analyses. Nothing is certain, and readers should do their own research before making investment decisions based purely on technical predictions. Crypto markets remain highly volatile.

Still, with technical and fundamental factors aligning positively for Tellor at the moment, analysts feel confident in projecting further upwards momentum for TRB in the near-term. But where the price ends up next remains to be seen.

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Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.