Tellor (TRBUSD) Potential for a Bullish Continuation

Tellor (TRBUSD) Price Forecast: June 5

The TRBUSD pair has the potential for a bullish continuation as it continues to show fundamental growth above the supply trend levels. The nearest resistance level for the crypto is between $50.00 and $53.00, whereas the most immediate resistance is around $53.50. Hence, there is a higher probability of a price-breaking resistance zone at $65.92 if the buy traders can double their efforts.

Key Levels:
Resistance Levels: $53.00 $54.00, $55.00
Support Levels: $24.00, $23.00, $22.00

TRB (USD) Long-term Trend: Bullish (Daily Chart)

The Tellor market remains bullish and also shows potential for a bullish continuation with huge volumes from the bulls on the higher time frames.

The prices are trading above the moving average moving closer to the upper resistance levels, indicating an uptrend.

The sustained bullish pressure at a $46.45 resistance level in the last session has made it easier for the coin to maintain upward growth.

Today’s daily bullish candle, which formed at the $53.50 resistance level above the moving average, confirms the bulls’ dominance in the market. This breakup has the potential to accelerate bullish momentum and extend the current correction to a higher level at $65.92 prior high, before a range breakdown.

Next, the TRBUSD pair is pointing upwards on the daily stochastic, drawing more buy traders to the market for a bullish continuation pattern. If that occurs, the coin price could further climb towards a $70.00 upper high level, adding to the bullish race in its long-term outlook.

TRB (USD) Medium-term Trend: Bullish (4H Chart)

The market price of TRBUSD is trading in the bullish market zone with a potential for bullish continuation on the medium-term outlook.
The bullish impact on the crypto to the $46.45 supply level during the previous action has sustained its firmness above the supply levels in its recent high.

Today, the bulls made an upward move to the $51.77 high value above the moving average line as the 4-hourly chart opens. The Tellor price looks promising as the bulls continue to show fundamental growth and remain dominant in the market.

If the bulls increase their price action and maintain a bullish momentum above the $65.85 resistance trend lines, further bearish sentiment will be suppressed.

Additionally, the daily stochastic remains in an upward direction. Hence, if the coin buyers manage to break above the $65.85 peak resistance value, the market participants may witness a new recovery rally and this may reach the $70.00 upper high mark soon as the TRBUSD price continues to show fundamental growth and a bullish continuation pattern above the supply levels in its medium-term perspective.

Buy Tellor on eightcap.com