Telcoin (TEL) Technical Analysis 2021 for Crypto Traders

Telcoin (TEL) Technical Analysis 2021 for Crypto Traders

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

Telcoin (TEL) is an Ethereum-based decentralized crypto platform started in July 2017 in Singapore to be the connection between cryptos, blockchain, and the telecommunication industry.

The project aims to partner with leading names in the telecoms industry like Verizon and AT&T to delete the hassle that stays between billing platforms and mobile money.

The main focus of Telcoin is the remittance market, where Western Union is presently the clear leader. Telcoin is collaborating with global telecoms and mobile money platforms to provide users with high-speed, low-cost digital remittances to mobile money platforms and e-wallets.

Telcoin (TEL) Current Market Status

According to CoinGecko, the Telcoin price is trading at $0.0433 with a 24-hour trading volume of $89,278,249, at the time of writing. However, TEL has increased by 13.9% in the last 24 hours.

TEL holds the 63rd position on CoinGecko right now. Moreover, TEL has a circulating supply of 54,869,406,904 TEL and maximum supply of 100,000,000,000. Currently, TEL trades in KuCoin, HitBTC, Bilaxy, Simex, and 1inch Exchange.

Telcoin Technical Analysis 2021 

The recent development and upgrades might push Telcoin (TEL) to reach new heights. Now, let’s deep dive into the Telcoin (TEL)technical analysis 2021. 

Telcoin (TEL) Showing Ascending Scallop Pattern in Hourly Time Frame

The hourly time frame chart below shows the Ascending Scallop pattern of Telcoin (TEL).

TEL/USDT Ascending Scallop Pattern
TEL/USDT Ascending Scallop Pattern (Source: TradingView)

Based on the graph above, the hourly time frame chart has shown the Ascending Scallop pattern. Normally, this pattern is followed by an uptrend signal but in some cases the pattern can change and move into a downtrend signal. More so, in this chart above the pattern took more than a day for the formation to take place.

In addition, at the beginning of this pattern, TEL moved from its bearish to a bullish trend. This results as many traders stop selling and start to buy. As a result, the TEL trading supply increased drastically.

Telcoin (TEL) RSI, MACD, MA, and EMA

The below chart shows the Moving Average Convergence/Divergence (MACD) of TEL. Notably, the MACD (blue) begins to stay just above the signal indicator (orange line).  This indicates that cryptocurrency traders can still expect more bullish days ahead. 

In contrast, if the MACD starts to move above the signal indicator and performs a bearish crossover. Then the crypto has a high possibility of reaching new highs.

TEL RSI and MACD
TEL RSI and MACD (Source: TradingView)

Now let’s look at the relative strength index (RSI) of TEL. As shown in the chart above, the RSI remains at level 58. This shows that SRM price is in neither overbought nor oversold state. However, this gives confidence for the traders to trade without any fear.

TEL’s Moving Average (MA) and Exponential Moving Average (EMA) is shown in the chart below. Moreover, MA is a part of technical analysis that helps traders to recognize trends. While EMA is a type of moving average.

TEL 30-day SMA and 50-day EMA
TEL 30-day SMA and 50-day EMA (Source: TradingView)

From the beginning of 2021, it is clear that the TEL price has shown many bullish patterns. Furthermore, taking all these into account, TEL could have a competitive market in 2021.

Telcoin (TEL) Showing Ascending Channel Pattern in Monthly Time Frame

The monthly time frame chart below shows the symmetrical triangle pattern. 

TEL/USDT Symmetrical Triangle Pattern
TEL/USDT Symmetrical Triangle Pattern (Source: TradingView)

In the chart above, which is set in a daily time frame, we can see the Symmetrical Triangle pattern. This pattern shows a period of consolidation that may force a price breakout or breakdown. A breakdown from the lower trendline represents the starting of a new bearish trend. In contrast, a breakout from the upper trendline indicates the start of a new bullish trend.

Conclusion

With the ongoing developments and upgrades that are taking place within the TEL platform. The cryptocurrency TEL has a fantastic future ahead in this crypto market. However, it is possible to see TEL reaching new heights.

Bullish TEL price prediction 2021 is $0.5. As said above, it may reach great heights, however reaching $1 if investors have decided that TEL is a good investment in 2021.

FAQ

What is Telcoin (TEL)?

Telcoin (TEL) is an Ethereum-based decentralized crypto platform. TEL is the native token of Telcoin.

Where can you purchase TEL?

TEL is listed on many cryptocurrency exchanges that include KuCoin, HitBTC, Bilaxy, Simex, and 1inch Exchange. In which the crypto is available to be traded against fiat currencies, stablecoins, and other cryptos.

Will TEL reach a new ATH soon?

With the ongoing developments and upgrades within the TEL platform, it has the high possibility of reaching its new ATH soon.

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

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Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.