TRB fell into his macro trade range from 9.93 to 44.24 dollars. The adoption of prices in this zone suggests that a long -term accumulation phase can be the next major development.
Tellor (TRB) is currently traded in the framework of a historically significant range, which previously owned an asset for more than 370 days. Since the price is again accepted in this region, traders carefully monitor signs of prolonged consolidation or decisive breakthrough.
The recent fall in volume and the current bear structure only adds weight to the theory that this market can enter the slow phase of accumulation, and not prepare for immediate expansion.
Key technical points,
- The macro -band is installed: The key support of $ 9.93 and the resistance of $ 44.24 determine the historical range.
- Bear Tom Profile: The volume remains below average, signaling a weak impulse.
- Previous Template Echo: TRB previously ranged here within 371 days before the breakthrough.
The return of TRB to this range emphasizes the likely scenario of the expanded movement of the side movement. The market showed several weekly closures in this group, confirming the acceptance of prices. From a technical point of view, this opens the door so that the price turns in this range for a significant period – still up to 337 days, if the history is repeated.
This bear Consolidation is confirmed by volume analysis. The current -extension remains significantly stunning, with voluminous nodes form below the average levels. The lack of participation in the market often indicates indifference, and not accumulation or distribution, contributing to a further movement in the range.
Structurally, the TRB remains weak, publishing lower maximums and lower falls, and he has not yet shown any signs of strength or bull change. The upper boundary of this range, about $ 44.24, remains critical resistance. Until this level is violated with a clear conviction and is maintained by volume, the probability remains distorted to expanded consolidation.
For bulls, the only sign of hope will appear from the restoration of higher levels with a growing volume and a change in pulse indicators. However, this scenario is currently not enough auxiliary data.
What to expect in the upcoming price action,
In general, traders should expect a higher rotational movement from 9.93 to 44.24 dollars. Until the volume is increased, and the resistance will not be broken, the accumulation of macros in this range is the most likely way forward.
