Tellor (TRBUSD) Price Triggers Bullish Move

Tellor (TRBUSD) Price Forecast: May 30

Today, the TRBUSD pair triggered a bullish move and looks promising as it rises above the resistance levels amid soaring network activity. The entire market is up by 2.75% and headed for higher highs as derivatives traders turn overwhelmingly bullish on the asset. Therefore, if the buying pressure persists, the coin price could surge high and touch the $63.12 resistance level, extending to the $67.00 upper high mark, resulting in a high momentum rally and an investment opportunity for interested traders.

Key Levels:
Resistance Levels: $55.00 $58.00, $61.00
Support Levels: $23.00, $22.00, $21.00

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

The Tellor market is gaining traction as it triggers bullish moves and rises above the resistance levels, reaching a new high and indicating a bullish market trend in its long-term view. However, the market is facing the upper resistance at the recent high.
The sustained bullish pressure pushed the pair up to the $50.71 resistance level during yesterday’s session and sustained it; this has enabled the coin to show fundamental growth and remain strong above the supply levels in its recent high.

Today’s daily bullish candle at the $53.33 supply mark above the moving average confirms the bulls’ dominance in the TRBUSD market. This breakup has the potential to accelerate bullish momentum and extend the current correction to a higher level at $63.12 if the bullish move persists.

Additionally, the daily stochastic indicates an uptrend. Hence, there is a tendency for the Tellor price to rise further if the support level at $29.89 holds. As a result, buyers may propel the crypto price to target the $67.00 upper resistance level, bolstering further recovery in its long-term perspective.

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

The market price of the TRBUSD pair is at the peak of its correction trend as the bulls trigger the bullish move in its medium-term outlook. The coin is trading close to the upper resistance level above the moving average, indicating strong bullish momentum.
The bulls’ activities on the crypto at a $43.88 high level in the previous action have led to the coin’s bullishness in its recent high.

After testing the lows of $46.60, the bulls made an aggressive move up to the $51.76 resistance level above the EMA-50 shortly after the 1-hourly chart opened today, reflecting increasing interest and engagement within the platform.

Hence, trading above the moving averages will enable the market value of Tellor to keep rising Therefore, if the bulls add more pressure to their activities, the coin price may rise above the $56.78 peak resistance level, targeting a notable market correction level at the upper channel.

Notably, the TRBUSD price remains in an uptrend direction, suggesting that the crypto might continue its bullish momentum, triggering the coin price to surpass the $56.78 previous high to hit the $67.00 upper resistance value in its medium-term forecast.

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