Tellor Sees Surge in Price, Attracts Buyers and Traders
The decentralized oracle protocol, Tellor, has experienced a significant increase in price, attracting more buyers and traders. The token’s price has seen a 452% increase in 2023, with a notable surge of 133% in the last month alone. Currently trading at $79.56, Tellor has shown a 14% increase in the past 24 hours, with a trading volume of $51 million.
Bulls Face Potential Correction on Rising Channel
Tellor TRB has been on an upward trend, reaching $79.76, which marks the upper limit of the ascending channel. Despite some resistance from bearish forces, the bulls have shown resilience with higher lows. The simple moving average positioned below the price indicates intense buying pressure for Tellor TRB. The relative strength index (RSI) also suggests significant buying pressure, surpassing the overbought region of 70.
Tellor TRB Trend Remains Bullish
The bullish trend for Tellor’s TRB is reinforced by the arrangement of the simple moving averages and the RSI. This provides momentum for TRB bulls to aim for a price target of $115. However, if the price falls below the upper boundary of the ascending channel, there may be an opportunity for bearish activity pushing it down to $69.06.
Bitcoin Minetrix Offers an Attractive Alternative
If you missed out on the Tellor Rally, Bitcoin Minetrix (BTCMTX) is another attractive option. This Bitcoin cloud mining platform has raised over $2 million during its ongoing presale phase and aims to reach a soft cap goal of $3.094 million. With only four days remaining in the presale, BTCMTX tokens are currently valued at $0.0111 each.
Stake Your BTCMTX Tokens and Earn Rewards
By staking your BTCMTX tokens, you can gradually generate mining credits that enhance your Bitcoin cloud mining capabilities. The more credits you use, the higher your BTC earnings will be through cloud mining. To participate in the presale, you can buy BTCMTX tokens using ETH, USDT, BNB, or a bank card. The team has allocated different percentages of tokens for various purposes, including financing Bitcoin mining activities and rewarding active community members.
Hot Take: Tellor and Bitcoin Minetrix Show Promising Performance
Tellor’s surge in price and bullish trend indicate a positive outlook for the decentralized oracle protocol. Meanwhile, Bitcoin Minetrix’s ongoing presale phase has attracted significant funding and offers an alternative investment opportunity. Both projects have the potential to yield profitable returns for investors in the crypto space.
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