Telcoin (TEL) is leading the crypto market today, surging 22% in the past 24 hours to trade at $0.0065. The rally comes after a period of consolidation around $0.0054, marking a strong rebound from its recent downturn.
The price action aligns with CCN’s recent analysis, which pointed to a potential recovery as TEL neared the end of a 30% correction.
Now, the question is whether the momentum can hold—or if another pullback is on the horizon.
The current supply trend indicates a reduction in available liquidity on centralized trading platforms.
If sustained, this could amplify buying pressure and push prices higher.
Possible Break Above Descending Triangle
Despite low selling pressure, the daily chart shows TEL still trading within a descending triangle. This bearish pattern is defined by a declining upper trendline and a flat horizontal support level.
A descending triangle typically signals a potential breakdown if support fails. However, on the daily TEL/USDT chart, the price is testing the upper boundary of the falling trendline.
If validated, this could trigger a breakout. Telcoin’s price is also on the verge of surpassing the 20-day Exponential Moving Average (EMA), a key technical level.
Failure to break above $0.0088 could invalidate this outlook, potentially leading to a drop toward $0.0055.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
