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
Bitcoin's comeback over gold? Economist Lyn Alden predicts that cryptocurrency returns will outperform precious metals over the next three years.
Macroeconomist Lyn Alden predicts that Bitcoin will outperform gold over the next two to three years due to significant differences in market sentiment towards the two assets. Although billionaire investor Ray Dalio considers Bitcoin risky and views gold as more mature, the correlation between the two is gradually increasing, potentially offering unique opportunities for investors in the future.
GateNews1m ago
The strengthening of the US dollar suppresses Bitcoin's rebound, and Middle East conflicts may trigger a price decline
The tense situation in the Middle East has triggered a strengthening of the US dollar, putting pressure on Bitcoin and high-risk assets. Analysis indicates that the appreciation of the dollar and high inflation may limit capital inflows into the crypto market. Although Bitcoin experienced a brief rebound, it still faces institutional sell-offs and market weakness. Investors should monitor the dollar trend and market dynamics to assess potential risks.
GateNews4m ago
XRP Price Outlook: Can it Break $3 by the End of 2026? Analysts Provide Bullish and Bearish Predictions
XRP is currently priced between $1.41 and $1.46, up about 4% in the past 24 hours but still below its all-time high. Analysts predict that if the market stabilizes, XRP could rebound to $3, while it might drop to $0.65 otherwise. Regulatory factors and the expansion of real-world applications will also influence its long-term trend. Investors should pay attention to market risks.
GateNews12m ago
Bitcoin options worth $2.2 billion are expiring today, putting short-term pressure on BTC's movement around the $70,000 mark
Bitcoin price dips briefly near $70,000 as the market watches the upcoming $2.22 billion options expiration. Analysis shows more put options than call options, increasing short-term volatility risk. Geopolitical conflicts also add to market pressure, and investors should pay attention to key support and resistance levels.
GateNews22m ago
Short-selling firm Culper Research warns of Ethereum's "Death Spiral": Deterioration of ETH economic model may impact corporate holdings
Culper Research released a report stating that the Ethereum network may fall into a "death spiral" as scalability improvements reduce transaction fee revenue, threatening the token economic model and potentially negatively impacting network security. The report also points out that companies holding large amounts of ETH face valuation risks, while Ethereum co-founder Vitalik Buterin selling ETH has further dampened market sentiment.
GateNews31m ago
Netizens want to bet on the "Iranian Rial": it has fallen 90% and will definitely rebound! Is this kind of war gamble worth buying?
The Iranian rial has plummeted over 96% in two months, hitting a record low. If a nuclear agreement is reached with the United States, the rial may have room for a rebound, but purchasing options are difficult and risky. Investors should be aware of U.S. sanctions risks and potential impacts of Iran's currency reforms on exchange rates. Many people are exchanging rial through cryptocurrencies, but caution is advised.
動區BlockTempo36m ago
