Telcoin Price Prediction – Will TEL Price Hit $0.1 Soon?

This Telcoin (TEL) price prediction 2021 article is based on technical analysis alone. Below, you will see the key measures that we have taken into consideration upon coming up with the TEL price analysis and prediction.

Among the cryptocurrencies that are rallying this year, Telcoin is perhaps one of the most surprising for some. It is not directly connected to Bitcoin, nor is it the most hyped cryptocurrency today.

But for those that are aware, Telcoin has been around since 2017. It recently made headlines after hitting almost $0.0649 on May 11, 2021.

Can Telcoin reach $0.1 in 2021? We will find out shortly. But before we proceed to our Telcoin price analysis, let us first answer the question “What is Telcoin?” in this TEL prediction 2021 article.

What is Telcoin (TEL)?

Telcoin (TEL) is Ethereum-based decentralized crypto developed in July 2017 in Singapore to be the bridge between cryptos, blockchain, and the telecommunication platform. The project aims to collaborate with leading names in the telecoms platforms like Verizon and AT&T to remove the hassle that remains between billing platforms and mobile money.

The main aim of Telcoin is the remittance market, where Western Union is presently the clear leader. Telcoin is collaborating with global telecoms and mobile money firms to offer users high-speed, low-cost digital remittances to mobile money platforms and e-wallets.

Telcoin (TEL) is an Ethereum blockchain-based ERC-20 token. TEL is utilized in the telecoin ecosystem for making payments on e-commerce websites.

Now that we have an idea about TEL, do you think TEL will be profitable crypto in 2021? Join me and let us see the charts in this TEL price analysis and TEL price prediction.

Telcoin Current Market Status

As of the time of writing this Telcoin (TEL) price analysis, TEL trades at $0.0244 with a 24-hour trading volume of $61,025,246. More so, the price of TEL has increased by 7.59% in the last 24 hours.

Furthermore, TEL has a current circulating supply of 52.03B TEL. Currently, the top cryptocurrency exchanges for TEL are KuCoin, HitBTC, Bilaxy, 1inch Exchange, and Bitbns.

Now, let’s proceed to the next part of this TEL technical analysis for 2021.

Telcoin Price Analysis

Currently, Telcoin (TEL) holds 62nd place on CoinGecko. But will the latest upgrades, development, and changes in the TEL blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this TEL price prediction article.

In the daily frame chart shown above, we can see the Symmetrical Triangle Pattern. This pattern shows the period of consolidation that may lead to a price breakdown or breakout. In this scenario of our TEL price prediction 2021, TEL has to break past the Fib retracement level at $0.065. To do this, it has to establish more support at the Fib level at $0.0096. If not, bears may gain the upper hand and drag TEL further to their territory.

In the foreseeable future, we can say that TEL has a higher chance of going bearish than bullish. As shown above, at the beginning of this month, TEL turned from its bear to bull trend. This is the result of the high trade volume that happened in that period.

The Relative Strength Index (RSI) is above 43, which means that TEL is in neither overbought nor oversold state. Hence, traders may trade without any fear.

Therefore, traders need to trade digital assets cautiously and must not be influenced by the market hype. Keeping all this in mind, crypto traders need to be aware and turn away from unexpected losses due to the crypto market’s huge wild swings.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of TEL.

Since the start of 2021, TEL’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by consolidation, fluctuations, and corrections right away. Taking this into consideration, TEL has a competitive market this 2021.

Telcoin Price Prediction

The chart below shows that TEL has shown bullish performance over the past few days. If this trend continues, TEL might run along with the bulls, overtaking its resistance level at $0.0489 and surge even more.

Conversely, if the investors turn against the crypto, the bears might take over and dethrone crypto to its support level at $0.0167, a bearish signal.

Meanwhile, our long-term TEL price prediction for 2021 is bullish. It has a high possibility of surging over its current all-time-high (ATH) at about $0.0649 this year. However, that will only take place if it breaks many past psychological resistances.

Conclusion

Telcoin (TEL) has a bright future ahead of it in 2021. With the ongoing developments happening within the TEL ecosystem, as well as in the overall crypto market, we may see TEL reach new heights.

Bullish TEL price prediction 2021 is $0.065. As said above, it may even reach $0.1 if investors have decided that TEL is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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