Telcoin (TEL) peaked at $0.059 in the beginning of May. In par with the market, Telcoin also began declining sharply as the market crashed. After falling to a low of $0.021, Telcoin has somewhat recovered. At the time of writing, the cryptocurrency stands at a price of $0.025. The price has been moving upwards in the past twenty-four hours while the trading volume has shot up by 150%.
Telcoin (TEL) Technical Analysis
The market sentiment for the cryptocurrency is neutral as the bulls and the bears are fighting over dominance. Out of the total twenty-six technical indicators, nine are standing at a buy position while eight are indicating a sell position and nine are neutral. The oscillators are bullish and the moving averages are bearish.
Telcoin has been operating in a broadening ascending channel formation. The cryptocurrency had touched the upper boundary of the channel during the bull run while it is currently at the lower boundary – testing the support level. Telcoin is expected to bounce back from the lower boundary of the channel establishing it as strong support. If the support is established then the cryptocurrency will reach upwards towards the weekly resistance level at $0.52. The strength of the bullish momentum will determine the upcoming price movements of the cryptocurrency.
Telcoin (TEL) Price Prediction
The price predictions for the coin are bullish. The cryptocurrency is expected to continue to grow in the longer timeframes. Wallet Investor’s projections places the cryptocurrency at a price of $0.050 after a year while the 5-year forecast predicts Telcoin to be operating at $0.16. Digital Coin Price predictions are also favorable for the cryptocurrency. Per the estimates, Telcoin will end the current year with a price of $0.039 while the price in 2028 is expected at $0.11.
