Tellor — Watching You Closely!

I know that Tellor left many investors unhappy. After its massive pump of more than 200% at the beginning of May, TRB entered a continuous downtrend channel. Four months later, Tellor has basically retraced the entire pump and is almost back to its crucial support level at $45.

The level at 45 USD is extremely crucial since it marks the bear market outbreak. TRB fell below this level at the end of 2021 and basically remained there for almost two years. Once Tellor broke out, it delivered an incredible pump beyond 200 USD.

🧐 What To Watch
Tellor is getting closer to the corner formed by the long-term downtrend channel and the 45-level. Accordingly, the probability increases that we will see a massive move—either to the down or to the upside. Currently, it is hard to predict the direction. However, the magnitude will be strong.

A drop below the 45-level will trigger immense downward momentum, sending Tellor to the 30-level or even sub-20-level in the worst case.

Conversely, a breakout to the top will initiate a massive pump. In this case, 100 should be easily reachable.

Therefore, I will keep my feet still and watch TRB very closely, being ready to jump on the breakout at any time!