In this article we are going to review Tellor (TRB) in detail and give a Tellor price prediction. While 2021 has been a great year for the crypto industry with an immense amount of adoption and growth, with Bitcoin crossing $67,000 just a few days ago and other cryptocurrencies hitting all-time highs this year.
There are more than 10,000 cryptocurrencies in crypto market, one of them is Tellor (TRB), While it might be confusing to understand whether Tellor is a good investment for 2021 and for the upcoming years, we are going to simplify in this article what it is all about. This article is based upon technical analysis and fundamentals of Tellor(TRB),
So let’s begin.
What is Tellor (TRB)?
Tellor is an oracle system in which miners compete to add data points to a data bank on the blockchain. Miners are rewarded for submitting data with inflationary incentives, and the sorts of data they update are determined by the “tips” granted to each query. Tellor creates a native coin called “Tributes” to establish a suitably motivated system (TRB). TRB holders may contribute a “tip” to a specific data type they want updated, and the Tellor smart contract aggregates the top five most funded data kinds into a PoW task for miners to solve every 5 minutes.
Tellor was founded in 2019 by a team of developers from the United States with the goal of solving the oracle problem on the Ethereum (ETH) network. DeFi DApps can use Tellor to receive high-value data for smart contracts. Staked miners who participate in proof-of-work (PoW) consensus assure the data feed’s integrity and dependability. Tellor is a decentralized, secure oracle built on Ethereum for decentralized financial (DeFi) applications (DApps).
Tellor(TRB) Price Analysis & Technical Analysis
Based on TRB Chart, as we can see that TRB Chart looks Very bullish in the long term perspective, while, the price action does not seem to make any technical pattern but TRB chart clearly Shows that, Price Seem to Follow the trendLine which means that the chart looks Bullish in the midterm to longterm. the trendline support shows the price movement is strong and very likely to Move Upwards.
While it is to be noted that a retracement from current price 62.20$ may come to about $51.20 at the trendline support (as shown in the chart above) before the price move back up and break the resistance. at around 64.32$
Technical Indicators – RSI , 100MA & 200MA (Moving Average)
RSI (Relative Strength Index) is a technical indicator Which shows that whether A Coin is Overbought or Oversold at a particular period of time. Tellor is currently showing its RSI value at 65.21, Which indicates that the market is neither overbought or over sold, RSI value Above 50 is considered bullish until RSI crosses 70, which indicates overbought, which usually indicates a correction in price.
100D Moving Average : As shown in the chart, The 100D moving average is currently following the trendlne indicating bullish movement as Moving average work as support when the price is above the moving average and vice verca.
200D Moving Average : 200D moving average is one of the important indicator which in Tellor(TRB) case seems to be bullish as the price moved up which indicates bullish movement as it works as support
Overall Chart Summary
RSI – Bullish
100D MA – Bullish
200D MA – Bullish
tellor(TRB) Price prediction 2021
Support & Resistance Levels
Support Levels : Currenty, the support levels for TRB at around $49.00 -$50.12 , The second Support levels are at around $40.52 -$40.11 , Third Support Levels are at around $28.23 – $27.72
Resistance Levels : Currenty, the resistance levels for TRB at around $65.00 -$65.87 , The second resistance levels are at around $88.52 -$89.41 , Third resistance Levels are at around all time highs $148.23 – $149.42
In Short term, We expect TRB to Reach price target of 70$ -75$ and in the midterm to longterm, We expect TRB price to Reach breaking Above $100 – $105
Tellor (TRB) Price prediction 2022
As per the bullish market conditions, TRB can easily target the price levels of 88.89$ – $92.00 , with upcoming developments and partnerships, TRB can Show parabolic upward Movement in the first half of 2022 to $89 , With a Small Retracement Without major Correction in Price Eventually Leading it to break previous Major Resistance. Overall, Tellor(TRB) Price target of 88$ is quite Optimistic yet feasible for the near future as well.
Tellor (TRB) Price prediction 2023
If the bullish Market trend Continues, Tellor (TRB) can ever go higher reaching the price targets of 110$ -115$. While the future developments and partnerships could lead TRB price to Skyrocket. Before that, it has to break Previous Major Psychological Resistance.
Tellor (TRB) Price prediction 2024
The most current enhancements and advancements made to the platform, as well as TRB price estimations and new project forecasts, are all considered. Furthermore, the price of TRB on the cryptocurrency market may climb as a result of this, making it an excellent investment because the price might grow to about $135.
Tellor (TRB) Price prediction 2025
In the following four years, TRB Price Might exceed its previous all time high. In the short term, TRB may face difficulties in reaching this level unless alternative medium-, short-, and long-term price objectives for purchase or sell orders can be created. The estimate indicates that TRB has a fair probability of achieving a new ATH in the next five years as a result of this development.
The future Looks Great for Tellor(TRB) , as the whole crypto industry is growing and making brilliant developments, we may see Tellor(TRB) reaching new all time high in the near future.
However, our long term 2021 price prediction for TRB is expected at 89$, also, TRB has high probability of Reaching 110$ price target in 2022, if previous Resistance Levels Breaks.
Tellor is an oracle system in which miners compete to add data points to a data bank on the blockchain.
just Like other cryptocurrencies in the crypto world, Users can buy TRB tokens by purchasing them from crypto exchanges such as Huobi Global or Binance.
Overall TRB is a good investment for 2021 and for upcoming years as well, TRB has very good fundamentals which is a backbone of an cryptocurrency,
TRB has been one of the best performing cryptocurrency this year, and with upcoming developments we can definitely say that TRB is indeed a Good Crypto to Invest in.
Tellor(TRB) Price is expected to reach $89 by 2022
Tellor(TRB) Price is expected to reach $115 by 2023
Tellor(TRB) Price is expected to reach $140 by 2024
Tellor(TRB) Price is expected to reach $189 by 2025
Disclaimer : This content is being provided only for educational purposes. Cryptonks.com does not provide any financial, legal, or accounting advice to its visitors. It does not constitute a formal offer to buy or sell anything, nor does it constitute a recommendation or endorsement of any specific products, services, or enterprises. Neither the company nor the author shall be liable for any damage or loss caused or alleged to be caused by or in connection with the use of any content, goods, or services mentioned in this article, whether directly or indirectly.
- Is Kleros Token a Hidden Gem? PNK Token Detailed Analysis & Review in 2022.
- Is Covalent Token a Scam? CQT Token Detailed Analysis & Review in 2022
- Is Energi Coin a Hidden Gem? NRG Coin Detailed Analysis & Review in 2022.
- Is DeXe Token a Hidden Gem? DeXe Token Detailed Analysis & Review in 2022.
- Is DerivaDAO Token a Scam? DDX Detailed Analysis & Review in 2022.