Tellor — Short-Term Outlook Remains Bearish 🔻

After Tellor's massive pump at the beginning of May, the token remained in a constant downtrend. Up to today, TRB has retraced about two-thirds of its pump. Moreover, there are currently no signs that this trend will end soon.

Conversely, Tellor paints a mostly bearish chart. Here are a few highlights (based on the 4H chart; however, the daily doesn't look very different):

- The price trades below the Ichimoku cloud, indicating a bearish trend.

- The Kijun line is about to cross the Tenkan line below the cloud — this is one of the strongest bearish Ichimoku signals.

- The future cloud is massively red, indicating a downtrend continuation.

If we move away from Ichimoku, things don't get better:

- TRB trades way below the EMA200, which further seconds the massive downtrend.

- Currently, TRB can't manage to break the resistance at 76 USD — this can be seen as the bare minimum to start an uptrend.

- TRB's price is way below the downtrend line that started in May.

Summarized, the overall outlook remains bearish. Let's see if the broader market can provide some support and help TRB gain bullish momentum. However, to go for long trades the chart setup has to change completely.

$TRB #Tellor