Telcoin Price Prediction 2021 – Will TEL Hit $0.5 Soon?

Telcoin Price Prediction 2021 - Will TEL Hit $0.5 Soon?
  • Bullish Telcoin TEL price prediction ranges from $0.04 to 0.12
  • TEL price might also reach $0.5 soon.
  • TEL bearish market price prediction for 2021 is $0.2.

In Telcoin TEL price prediction 2021, we use statistics, price patterns, RSI, and much other information about TEL to analyze the future movement of the cryptocurrency. 

Telcoin (TEL) is a decentralized crypto platform based on Ethereum. It was launched in Singapore in July 2017. It has become a link connecting the cryptocurrency, blockchain and telecommunications industries.

The project aims to work with telecommunications industry leaders such as Verizon and AT&T to eliminate confusion between payment platforms and mobile money.

Telcoin’s main focus is the remittance market, and Western Union is currently the undisputed leader in this market. Telcoin cooperates with global telecommunications and mobile money platforms to provide users with fast and affordable digital transfers to mobile money platforms and e-wallets.

According to CoinGecko, the Telcoin price is trading at $0.029 with a 24-hour trading volume of $18,584,275, at the time of writing. However, TEL has increased by 2.5% in the last 24 hours.

In addition, TEL has a circulating supply of 54,869,406,904 TEL. Currently, TEL trades in cryptocurrency exchanges such as  HitBTC, KuCoin, Bilaxy, 1inch Exchange, and Bitrue.

Telcoin TEL Price Prediction 2021

Telcoin (TEL) holds the 61th position on CoinGecko right now. Telcoin TEL price prediction 2021 explained below with a daily time frame.. 

TEL/USDT Price Chart Daily Time Frame
TEL/USDT Price Chart Daily Time Frame (Source: TradingView)

In the above chart, we can see there is a three-box breakout pattern after some consolidation range, this pattern represents “Darvas Box Breakout”. Usually, Darvas Box will make some Consolidation Range and then breakout will happen on either side based on the bidders. In Box Breakout 1, TEL has traded in a range of $0.0005 and $0.0008. Afterward, the price breached the resistance level and then entered into the Markup zone.

The second consolidation phase that is indicated in the chart is Box Breakout 2. In that phase, TEL has traded in a range of $0.003 and $0.0045, and then the price entered into the Markup zone after the breakout ($0.0045). The third consolidation phase, which is mentioned in the chart is Box Breakout 3. In that phase, TEL has traded in a range of $0.0065 and $0.01and then the price entered the rally zone after the breakout ($0.1) with good volume spurts.

Moreover, currently, TEL trades in a Consolidation phase in a range of $0.02 and $0.04. If the price of the token breaks down the level at $0.03, it will fall at the support level of $0.02. Or else, if the price of the token breakup means it will reach the target of $0.12.

TEL Support and Resistance Level

The below chart shows the support and resistance level of TEL.

TEL/USDT Support and Resistance Level
TEL/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frame, it is clear the following are the resistance and support level of TEL.

  • Resistance Level 1 – $0.064
  • Resistance Level 2 – $0.11
  • Resistance Level 3 – $0.22
  • Support Level 1 – $0.02
  • Support Level 2 – $0.01
  • Support Level 3 – $0.0044

All-in-all, from the charts above it is clear that TEL’s bearish trend continues and it is possible to turnover and reach great heights. Moreover, the charts show that TEL has performed a bullish trend over the past month. If this trend continues, TEL might run along with the bulls overtaking its resistance level at $0.22.

Conversely, if the investors turn against the crypto, the price of TEL might plummet to almost $0.004, a bearish signal.

Telcoin (TEL) Average Directional Index (ADX)

Now let’s look at the average directional index (ADX) of TEL. Generally, the Average Direction Index (ADX) helps traders to determine the strength of a trend. It can be used to determine whether the market is changing or a new trend is starting. It is related to the Directional Movement Index (DMI) and includes the ADX line. 

Moreover, the range of the oscillator is from 0 to 100. A high value represents a strong trend, and a low value indicates a weak trend. It is often combined with directional indicators. 

TEL/USDT ADX
TEL/USDT ADX(Source: TradingView)

The above chart shows the ADX of TEL stays at the range of 11.8, so it indicates a sideways trend.

Conclusion

The TEL is one of the cryptos that keeps its ground against the bearish market. Furthermore, our long-term TEL price prediction for 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $0.06 this year. However, this only happens when TEL breaks a lot of past psychological resistance.

Furthermore, with the ongoing developments and upgrades within the TEL ecosystem, it could experience a great future ahead in 2021. It may reach 0.5 soon and it might even reach high heights, however reaching $0.65, if investors have planned that TEL is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.