Telcoin Price Prediction October 2021: TEL Bullish In The Short Run

TEL Technical Analysis – October 2021

Monthly Analysis

Over the last 30 days, TEL decreased by 48%, meaning that the price was in a downtrend. However, after finding support at $0.013, TEL started increasing again, and it has increased by around 47%. The current trend is upward for TEL, indicating that the price could increase in the coming days.

Weekly Analysis 

Over the last 7 days, TEL has increased by 38%. The price movement of TEL was stopped by resistance at $0.02. TEL is now having a pullback, but its price might keep increasing in the coming days.

Telcoin Price Prediction October 2021: TEL Bullish In The Short Run

Daily Analysis

In the intraday chart, TEL has been bearish. The price has decreased by 5% in the last few hours. While the 30-minute chart suggests that TEL is bearish, TEL is still bullish in a 4-hour chart.

Telcoin Price Prediction October 2021: TEL Bullish In The Short Run

Key Structures

Support

  • $0.0168

Resistance

  • $0.02

Indicators

Moving Average

The 20-day moving average is below the price, meaning that the trend is now upward and that the price could keep increasing in the coming days. The MA line could act as support in the coming days.

The 9-day EMA is also below the price due to the recent increase, meaning that TEL is bullish and that it may increase in the short run.

Relative Strength Index

The RSI of a daily chart has slightly decreased recently, but it is still above 50, meaning that the momentum is bullish. In the 4-hour chart, the RSI has declined recently after being over 70 and in the overbought region. It suggests that TEL is bullish.

MACD

In a daily chart, the MACD line has climbed above the signal line, and it is now heading above the baseline, meaning that the momentum is now bullish for Telcoin. As for the 4-hour chart, the MACD line is now declining and converging with the signal line, but it is still above the baseline and bullish. If the lines intersect, we could see a shift in momentum for Telcoin.

Fear & Greed 

In a 4-hour chart, the fear and greed indicator suggests that the current emotion for TEL traders is fear due to the recent pullback.

Telcoin Price Prediction October 2021: TEL Bullish In The Short Run

Fibonacci

The Fibonacci retracement level in a 4-hour chart suggests that the price of TEL has retraced to the 38.2% level. If the buying pressure is high, we could see TEL break resistance and aim for one of the extension levels.

Telcoin Price Prediction October 2021: TEL Bullish In The Short Run

In a 1-hour chart, TEL has recently found support slightly below 61.8%. If Fibonacci is respected, we could see TEl retest resistance in the coming hours.

Telcoin Price Prediction October 2021: TEL Bullish In The Short Run

Price Prediction TEL – October 2021

Based on this technical analysis, we could see TEL go further upward if the support structure is strong. We could see TEL hit $0.021. Things are looking bullish for TEL traders unless anything major happens to the cryptocurrency market.

Latest News for TEL – Affecting Price

There has not been any major news for TEL to affect its recent price. China’s recent ban on cryptocurrencies affected the whole market. Nonetheless, if BTC increases in the coming days, we could expect the same for TEL. 

Also read: Telcoin Price Prediction 2021 and Beyond – Is TEL a Good Investment?