Tellor (TRB) Price Surges 39% in 24 Hours
The price of Tellor (TRB) has experienced a significant surge in the past 24 hours, rising by 39% from $178 to an intraday high of $247. Currently, TRB is trading at around $242.
This surge is part of Tellor’s overall upward momentum in the past month, with a 41% increase in the past seven days and an impressive 215% gain over the past 30 days.
Analyst Highlights Potential Manipulation
In a video analysis, the Cilinix Crypto YouTube channel analyst acknowledged Tellor’s positive price action and fundamentals but expressed concerns about potential manipulation across several exchanges. The analyst identified high volumes from exchanges like Super X, WebC, and UEE as potential indicators of manipulation.
“There’s a ton of volume coming from Super X, WebC, UEE, those types of exchanges and it is manipulated. […] If they’re behind these moves, I mean, I’m not sure if I like the project that much.”
Cilinix Crypto
Despite the potential for manipulation, the analyst believes there is still room for further upside. They mentioned a resistance level around $250-$260 and suggested that surpassing it could lead to a continued rally towards $300. However, they cautioned that a sharp reversal could happen at any time.
“At some point of time, and that’s why I’m not trading this, at some point of time, it’s going to crash. So whether that’s from $260, $300 or $400, I don’t know.”
Cilinix Crypto
Hot Take: Tellor’s Surge Raises Manipulation Concerns
The recent surge in Tellor’s price has brought both excitement and caution among investors. While the coin’s upward momentum is impressive, there are concerns about potential market manipulation across various exchanges. The analyst from Cilinix Crypto YouTube channel pointed out high volumes from certain exchanges as indicators of manipulation. Despite these concerns, there is still optimism for further gains, with resistance levels and potential rallies being discussed. However, investors should remain vigilant and be aware of the risks associated with potential market manipulation.
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