The Tellor (TRB) token delivered a Santa rally and surged over 280% this month, replicating bullish momentum. TRB token has gained pace after escaping the major hurdle of $150 above the 20-day EMA barrier, and the token has skyrocketed for the past sessions. Amid the uncertainties in the crypto market, Tellor token did not impact much, has persisted in doing the fireworks, and is celebrating the rally.
TRB token price is trading above the significant moving averages and is in uncharted territory at its 52-week high mark. The price action highlights bullish momentum, where buyers have continued to add long positions, and trading volume highlights investor interest. The technicals are replicating follow-on buying, as the token produces higher high swings.
The live price of Tellor (TRB) token is $274.46 with an intraday gain of 11.89%, showing bullishness on the chart. Moreover, the trading volume increased by 27.78% to $159.63 Million. However, the pair of TRB/BTC is at 0.00640 BTC, and the market cap is $690.86 Million. Analysts have maintained a bullish rating, suggesting the rally will continue in the following sessions.
Tellor (TRB) on Daily Chart Displays Major Rally
On the daily chart, the TRB price approached the bullish trajectory last week, stretched the gains, and surpassed $250 sharply. Moreover, the token is ready to claim the immediate swing of $300 in the next session. Per the Fibonacci extension tool, if the TRB token price succeeds in escaping the $283 mark, it will head for $292, followed by $300.
The relative strength index (RSI) curve stayed on the top above 80 in the overbought zone, forming a positive crossover and signaling outperformance on the charts. The MACD indicator showed a bullish crossover and formed huge green bars on the histogram, suggesting that the TRB token will reach $300 in the following sessions.
Weekly Chart Reflects Massive Breakout
On the weekly chart, the TRB token registered a breakout and escaped the 52-week high mark above $165 and rolled over 60% in the last week. The chart showcased a breakout of the cup and handle pattern, where buyers succeeded in breaching the supply zone and sharply exceeded the hurdles.
Summary
Tellor (TRB) token price has made a fresh 52 week high and has gained traction above $250 in the recent sessions. The technicals are displaying the buyers’ accumulation and TRB token is heading to claim an immediate round mark of $300. Following the crypto market rally, the TRB token delivered a massive breakout and is still climbing.
Technical Levels
Support Levels: $260 and $250
Resistance Levels: $282 and $300
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
Source: https://www.thecoinrepublic.com/2023/12/31/tellor-trb-rolling-towards-300-whats-cooking-inside-trb/