Telcoin Price (TEL) Resumes Downtrend, How Low Can it Go?

Telcoin price fall has entered the fourth consecutive day and came closer to a three-month low. The crypto lacks buyers’ support at the lower levels.

The price today retreated below $0.0012 after getting enough supply near the 50-Day EMA on a 4-hour time frame. The transaction volumes are low due to the weekend. The buyers tried to make a comeback in the morning session however, failed by afternoon and a red candlestick is being formed by the bears.

At the time of writing, Telcoin price was $0.0012 after losing 1.19% intraday. It has a total market capitalization of $105.317 Million and ranks 331st among all the cryptocurrencies. It had a 24-hour trading volume of 418.67K with an intraday drop of 126.64%. 

The price performance shows that Telecoin crypto gained momentum after breaking out of the correction phase in mid-October, 2023. Thereafter, the price maintained a strong outlook till late November 2023. 

The rally that started from $0.0011 in October peaked in late November at $0.00287. The investors and traders noted a gain of over 150% in the period. Later, the crypto price turned around and started to fall mid-November and broke below the 50-Day EMA over the daily chart.

The bulls tried again but failed to hold above the 50-Day EMA. The TEL price then dropped sharply and registered a 30% drop on December 23rd. Since then, the price has been losing steadily.

Currently, the price may continue to drop until it meets a strong support on the lower side. Also, for the price trend to reverse, bulls need more buying volume to counter the selling pressure.

As per the indicator analysis, Telcoin is exhibiting bearish performance. The MACD line dropped below the zero line and shows a negative crossover with the signal line suggesting weakness.

At the time of writing, RSI was at 34.64 points and that SMA line was at 37.49. RSI is recovering after entering an oversold region suggesting weakness over the charts.

Telcoin Price Prediction January 2024

Telcoin Price (TEL) Resumes Downtrend, How Low Can it Go?
Source: TEL/USDT by TradingView

The positive view of analysts is an upside potential of over 19.83%, which could take the Telcoin crypto price above the $0.00142 mark. While the bearish view of analysts hopes the price could drop to the $0.0011 level.

Telcoin Price Prediction 2024

The price prediction for 2024 shows that Telcoin crypto may advance to a high of $0.0021 by the end of year 2024. Whereas, the less optimistic analysts estimate a price target of $0.00178 by the end of year 2024.

Telcoin Price Prediction 2025

As per the most positive view of our analysts, the price may hit the $0.00298 mark, suggesting an upside potential of 132.1%. The most pessimistic view assumes the price could reach $0.00215 by the end of the financial year 2025.


The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

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