- The price of TEL is in a downtrend making lower highs and lower lows on the chart.
- The TEL price is below the 20, 50, and 100-Day exponential moving averages.
Telcoin (TEL) is the native currency, reserve asset and protocol token of the Telcoin user-owned, decentralized financial platform. TEL enables end users to easily access and power a global suite of user-owned, decentralized financial products.
TEL incentives align market participants, such as telecoms and active users, to provide specific value-added services to end users of the platform, aligning the incentives of the Telcoin ecosystem towards giving every mobile phone user in the world with access to fast and affordable, user-owned financial products.
The Telcoin Platform is a user-owned, decentralized financial platform empowered by active Telcoin users, Mobile Network Operators, and Mobile Financial Service Providers.
Telcoin aims to turn decentralized finance into seamless, automated, user-owned applications and distribute those products and services through telecoms to every mobile phone user in the world.
Snapshot: TEL Crypto Chart
The TEL chart is displaying bearishness which is likely to be the characteristic of the coming sessions. TEL fell by 11.00% last week and by 49.20% through last month, implying a stable downward direction.
Telcoin price is in a strong downtrend, displaying that it is making lower highs and lower lows on the chart. This shows that the sellers are dominating the TEL market and the buyers are losing confidence.
It is about to lose its grip from the current base, as it is nearing the resistance level. It if drops from there, it could shatter the current support and crash further.
The TEL price is below the 20, 50, and 100-Day exponential moving averages (EMAs), which are acting as dynamic resistance levels and pushing the price down. The EMAs are also sloping downward, which confirms the downtrend.
The TEL price is also near the demand zone, which is at $0.001380. However, if the TEL coin price breaks below this zone, it could fall further to $0.001000, which is the next support level.
On the other hand, if the TEL price reverses the trend and breaks above the EMAs, it could rise to $0.001500, which is the next resistance level.
Summary
The TEL price is below the 20, 50, and 100-Day exponential moving averages, which are acting as dynamic resistance levels and pushing the price down. However, if the TEL price breaks below this zone, it could fall further to $0.001000, which is the next support level.
Technical Levels
Support Levels: $0.001000
Resistance Levels: $0.001500
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
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