Tellor ( #TRB ) reached from approximately 10 USDT to 49 USDT with the upward movement that started on August 26. Although the reason behind this upward movement has been expressed in many different ways by many different investors, it is known that there is no definitive reason. Let's see what the technical chart says about #Tellor (TRB), which has attracted many people who say "it has risen too much, let me short it".
The chart below shows the daily price movements of Tellor (TRB).
When we examine the chart, the first thing that catches our eye is the emergence of a double top formation, which is a reversal formation. You can see an example of the double top formation in the image below.
What will happen now?
The price started a downward movement by reacting from the red resistance area. This movement indicates a retreat to the support point at the 30.5 USDT level in the middle of the chart. As a result of finding support at this point, a level may be seen where the price can hold for a short time. Apart from that, it should not be forgotten that TRB's sharp rise would end at some point.
What is Tellor (TRB)? What are its features?
Tellor is a decentralized oracle network built on top of the #Ethereum blockchain. Oracles are tools used to provide real-world data to smart contracts on the blockchain. Tellor accomplishes this task using data provided by data validators.
The key features of Tellor are:
Decentralized: Tellor is not affiliated with any central authority. Data validators can be anyone, anywhere.
Secure: Tellor uses a dispute mechanism to verify data validators' data. This mechanism prevents incorrect data from being added to the chain.
Economically sustainable: Tellor rewards data validators for providing accurate data. This ensures the reliability and accuracy of data on the network.
Tellor is particularly useful for DeFi (decentralized finance) applications. DeFi applications need real-world data. Tellor can be used to provide this data in a safe and reliable manner.
Tellor's native cryptocurrency, TRB, is used for various purposes on the network. Data validators stake TRB to report data and earn rewards. Users use TRB to request data and reward data validators by staking TRB.
Tellor is a major player for decentralized #oracle networks. It powers DeFi applications by providing safe and reliable data.
The features of Tellor (TRB) can be summarized as follows:
Decentralized: Tellor is not affiliated with any central authority.
Secure: Tellor uses a dispute mechanism to verify data validators' data.
Economically sustainable: Tellor rewards data validators for providing accurate data.
DeFi-friendly: Tellor is particularly useful for DeFi applications.
TRB token: TRB is used for various purposes on the network.
The future of Tellor (TRB) looks bright with the growth of DeFi. Tellor can help increase the adoption of decentralized finance by powering #DeFi applications. $TRB $ETH
