Telcoin (TEL) recorded an increase of 13.3% in just 24 hours, accompanied by a trading volume explosion of up to 177%. This surge stems from testing the important short term support level at 0.00475 USD.
This altcoin is on a long-term upward trend, following a strong breakout in early November due to positive news. On November 12, Telcoin announced that it had received final charter approval from the Nebraska Department of Banking and Finance to launch the Telcoin Digital Asset Bank (, making Telcoin the first blockchain bank.
The flagship product of the bank, eUSD, will be the first US dollar stablecoin issued directly on-chain by a bank. “This demonstrates that a bank can responsibly issue digital currency on-chain while fully complying with the regulations of US authorities,” emphasized Paul Neuner, Founder and CEO of Telcoin.
This information has created a strong wave of demand for TEL, the native token of Telcoin. Just under three weeks after the announcement, TEL has increased by up to 83%. Technical analysis shows that the upward trend continues, but in the past 10 days, the market has been undergoing a consolidation phase, laying a solid foundation for the next advances.
Decoding the upward trend of Telcoin
![])https://img-cdn.gateio.im/webp-social/moments-3b482ef503f98061f2d7e31842c0f758.webp(Daily chart of TEL/USDT | Source: TradingViewThe 1-day timeframe shows that the previous downtrend was broken on 12/11, when the lower peak level of 0.003 USD)orange( was surpassed, paving the way for new swing points of the uptrend. The important bottom level of 0.00446 USD continues to serve as key support, helping the uptrend maintain stability. Meanwhile, the unbroken supply zone)white box( from 0.0056–0.0061 USD remains the resistance level to watch.
![])https://img-cdn.gateio.im/webp-social/moments-62ab3330001804616dce1b4d574900ff.webp(TEL/USDT hourly chart | Source: TradingViewOn the 1-hour chart, TEL is fluctuating within a 9-day )purple( range from 0.0047 to 0.0057 USD, with the midpoint of 0.0052 USD acting as both support and resistance in recent sessions. The OBV index has increased significantly in the last 24 hours, coupled with bullish signals from the MACD, indicating strong buying volume along with upward price momentum.
However, traders should not rush to expect a breakout. Instead, restraining FOMO and taking advantage of the extremes of the trading range to buy and sell TEL will be more effective, especially when the short-term price action and indicators still lean towards a bullish trend. In other words, TEL is not a coin to “buy immediately”, but a token suitable for short-term traders to take profits.
SN_Nour
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Ethereum (ETH) on the Edge: Critical Level Stands Between New Bull Run and a Major Crash
While the second-largest cryptocurrency has registered a significant rebound over the past month, it remains at risk of plummeting to drastically low levels during this cycle.
On the other hand, some important indicators suggest that the worst might be over and the price could be gearing up for a m
CryptoPotato41m ago
Powell Speech Today Drives Focus on Delayed Fed Rate Cuts
The Federal Reserve maintained interest rates, causing market volatility and altering rate cut expectations. Rising oil prices and inflation concerns affect economic outlooks, while Bitcoin shows signs of recovery amid cautious optimism. Powell's upcoming remarks are key for future market sentiment.
CryptoBreaking1h ago
Bittensor (TAO) Is Up 140% in 6 Weeks, But Data Shows Retail Is Missing the Big AI Rally
Bittensor has recorded a 140% price increase over the past six weeks, including a 105% rise since March 8.
The latest price action has pushed it to the 26th-largest cryptocurrency by market capitalization, according to new data from Santiment.
AI Tokens Heat Up
-----------------
The rally comes a
CryptoPotato1h ago
Fed's Powell's comments sooth bond market, but oil continues rise, hitting crypto and stocks
U.S. stocks fell despite soothing comments from Fed Chairman Powell about inflation, while oil prices surged, negatively impacting risk assets. The bond market reacted favorably, with Treasury yields dropping and expectations for future Fed rate hikes dimming.
CoinDesk2h ago
Bitcoin Flashes 'Warning Sign' With Nearly Half of BTC Supply Sitting at a Loss: Report
A recent report reveals that 47% of Bitcoin holders are experiencing unrealized losses, with long-term holders particularly affected. Despite Bitcoin's price remaining stable recently, the market shows signs of stress, raising concerns about potential price drops.
Decrypt2h ago
XRP Faces Pressure as Network Usage and Momentum Decline
Key Insights
XRP Ledger transactions and active accounts dropped sharply, signaling reduced usage and weakening demand that directly impacts the asset’s broader market outlook.
Price continues to face resistance at key technical levels, while compression below moving averages reflects
CryptoNewsLand3h ago
