Tellor (TRBUSD) Price Could See More Increase

Tellor (TRBUSD) Price Forecast: June 6

The TRBUSD price could see more increase given that the coin market is gaining traction and the bulls are continuing to dominate the market. The coin price signifies signs of recovery after experiencing significant declines in the past few weeks. Based on the outlook, the coin may continue its bullish movement if buyers aggressively increase their buying motives in the market, breaking the resistance level at $65.92 to hit the $70.00 upper resistance level and beyond, offering a good entry opportunity for coin buyers.

Key Levels:
Resistance Levels: $58.00 $59.00, $60.00
Support Levels: $26.00, $25.00, $24.00

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

On the higher time frame, the TRBUSD price remains steady in a bullish trend and could see more increase as the bulls continue to gain strength, lifting the token to new highs.
The price bars are above the moving average with huge volumes from the bulls, suggesting an uptrend. Thus, the recent market structure has favored the bulls.

The sustained bullish activity at a $44.38 high in the last session has enhanced the crypto price to remain firm above the supply levels in its recent high.

Today, the market price of Tellor at a $55.78 supply level above the EMA-50 as the daily chart opens implies that the price is in an uptrend, and could further increase and keeps growing.

Meanwhile, the TRBUSD market could see an increase, and a potential upswing would get better confirmation of a bullish recovery if the buyers break above the May 29th high of $65.92. The post-breakout rally would lead the crypto price toward the upper resistance area, creating excitement among investors.

Hence, there is a tendency for the Tellor price to rise further if the support level holds. As a result, buyers might take the token price up to a high of $70.00 in the coming days, as it anticipates more increase in its long-term perspective.

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

The order flow from the bulls has enabled the TRBUSD price to see more increase and remain in upward pressure in the medium-term time frame. The price bars are above the moving averages, confirming its bullish trend.
The bulls’ increase in buying pressure to a $46.45 level has contributed to the bullishness in its recent high.

Today’s market value of Tellor at a $54.13 supply value above the moving averages as the 4-hourly session opens suggests that the token price could see more increase as buyers remain dominant and the journey continues.

Furthermore, if the bullish momentum persists, a breakout above the $65.92 combined resistance with candle closing, will signal a strong buy signal for interested traders.

In addition, with the daily stochastic pointing upwards, the TRBUSD market could see an increase if all the support is in place. Thus, the coin price might jump to the $70.00 upper high level in its medium-term outlook.

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