Current Price:
Perpetual: $62.586 (-2.43%)
Spot: $62.59 (-2.49%)
Good afternoon, traders!
Let’s talk Tellor (TRB)—a pair that delivered a 4,444% rally last year, showcasing explosive potential. Could we see history repeat itself?
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Key Observations
1️⃣ Bullish Lower Low:
Despite the recent dip, TRB has formed a bullish lower low.
This signal aligns with RSI bullish divergence, indicating an upcoming trend reversal.
2️⃣ RSI Analysis:
RSI bottomed in mid-April 2023 and has since produced a higher low (November).
This signals a six-month-long bullish divergence, reinforcing a potential uptrend.
3️⃣ Volume Decline:
December’s lower low came with reduced bearish volume compared to April’s higher low.
This suggests a loss of bearish momentum, opening the doors for a reversal.
4️⃣ Potential for Growth:
TRBBTC also hit bottom just 10 days ago (December 20th).
Historical data points to massive rallies following similar corrections.
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Why This Matters
The correction to new lows, deeper than the start of the 2023 bullish wave, paves the way for potential massive growth. With bullish divergence, diminishing bearish volume, and RSI strength, the signs are aligning for a strong upward move.
Key Levels to Watch:
Support: $60.00
Resistance: $70.00, $85.00
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Pro Tips
Volume Confirmation: Monitor for increased volume at breakout levels.
Risk Management: Use tight stop-losses below support to minimize downside risk.
Entry Strategy: Consider partial positions near support and add on confirmed breakouts.
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Final Note:
If history is any indicator, TRB could deliver extraordinary returns again. However, keep risk management a top priority and trade with discipline.
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