Token After a 3200% Rally 🤔?

The rising Tellor token price is poised for a minor pullback to recuperate the exhausted bullish momentum.

The Tellor (TRB) token, a decentralized oracle protocol, has shown remarkable resilience and recovery in the past two weeks, successfully navigating through market uncertainties. This resurgence began at $73 and has since soared by 236%, reaching a remarkable $247.5.

This upturn was marked by the breach of a long-anticipated cup and handle pattern, signaling a pivotal trend reversal. Despite this, a recent analysis by a crypto expert on the Cilinix Crypto YouTube channel raised concerns about potential market manipulation, advising caution for new investors in this asset.

So is TRB Price Heading to $300?

The rising TRB price could face potential supply pressure at $285, followed by $300The positive alignment in daily EMAs(20, 50, 100, and 200) reflect an bullish trend sentimentThe intraday trading volume in TRB is $165.4 Million, indicating a 26% loss.

In the broader context of a bullish crypto market and heightened buyer accumulation, the Tellor token price embarked on a robust recovery in late August. Starting at $9.2, the coin’s value skyrocketed by 3268%, currently trading at $248.2. 

On December 21st, the TRB price broke above the neckline resistance of this pattern at around $142, further fueling market demand. According to this chart pattern, the TRB price might climb an additional 15%, reaching a prospective target of $286.8. 
If the recovery extends, the coin could potentially reach as high as $430.

The present market sentiment for Tellor token is overwhelmingly positive, yet sustaining a rally of this magnitude typically requires backing by significant developments or news. The analyst acknowledged the coin’s robust price performance and solid fundamentals, such as the increase in open interest and funding rates. However, they raised concerns about indications of market manipulation involving Tellor across various exchanges.

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