Onchain analytics firm Spot On Chain highlighted activity in the Tellor (TRB) market, where eight whales cashed in approximately $3.56 million in profits. This occurred after $TRB’s price soared by over 100% in just one week. Initially, these whales acquired 82,849 $TRB on Coinbase at a cost near $80.20 each between early March and May.
Moreover, they then sold the assets after holding for around two months at approximately $123 per coin, yielding a profit of 53.6%. This strategic play by whales underscores their influence on market dynamics and suggests potential upcoming transactions as more may look to reap similar gains.
TraderAAG Analyzes $TRB’s Bullish Trend
On another front, respected crypto analyst TraderAAG provided an insightful chart analysis on the $TRB/USDT trading pair. The analysis points out that despite $TRB nearing a sell-side liquidity level on the daily timeframe, the market sentiment remains bullish.
TraderAAG explicitly advises traders to hold off on shorting the asset until it absorbs the available liquidity. Significantly, the support level stands firm at last week’s high of $97, indicating a solid foundation for $TRB’s current market strength.
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Show more +Show less – Technical Insights and Future Prospects
Further dissecting TraderAAG’s analysis, several critical price levels and market behaviors were outlined. The recent trading peak for $TRB reached $141.32, with the previous day’s low marking at $125.08. Such volatility suggests that $TRB/USDT is a highly volatile trading pair, attracting both speculative interest and high-risk traders.
Additionally, if the market continues to favor the bulls and maintains support above critical levels like the previous day’s high and low, we could witness further upward trajectories. However, the noted sell-side liquidity peak could signal a potential price reversal or consolidation phase, necessitating cautious trading strategies.
Read also: Can Ripple’s XRP Price Surge to New All-Time High? Experts Outline These Key Drivers of Potential Gains
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