Telcoin is exhibiting renewed strength, with its price chart displaying increased activity after weeks of consolidation.
The TEL price experienced a significant surge, approaching the $0.007 level and briefly touching $0.0069 before encountering resistance, a level previously identified as a point of contention.
While this rejection was anticipated, the swift return of buyer interest was notable. An increase in trading volume and upward momentum suggest this move may represent more than a temporary recovery.
TEL Is Testing Resistance, But This Move Looks Strong
On short-term charts, TEL has been consistently forming strong green candles accompanied by rising volume. This pattern typically indicates genuine buyer engagement and interest.
The rejection at $0.007 was expected, but the immediate recovery suggests a more robust underlying trend. In a market where many altcoins are struggling, TEL's current strength is particularly noteworthy.
The Weekly Chart Indicates Something Bigger Is Brewing
The broader weekly chart presents an even more compelling picture. The TEL price has shown a strong bounce from the $0.0046 support zone, a level that has provided stability multiple times previously.
Market analysts have observed that the Stoch indicators crossed upwards concurrently with this bounce, a signal often preceding a significant trend shift.
The next major target identified is around the $0.012 level, often referred to as the "white line" on charts. Based on the weekly structure, this target appears achievable.
TEL has a history of aggressive price movements once momentum builds. The price range between $0.007 and $0.012 is relatively narrow, and with the weekly candle now pushing above the EMA, it suggests the TEL price may be preparing for a substantial upward move beyond a simple relief bounce.
Why Volume Matters So Much Right Now for TEL
The surge in trading volume is a critical component of this current price action. TEL typically only shows such high volume when significant underlying developments are occurring.
Historically, similar volume patterns have preceded significant price doubling within a short period. The recurrence of this pattern, combined with improving momentum indicators, strengthens the possibility that this could be one of TEL's notable "anomaly" moves.
How High Can Telcoin Go?
For the TEL price to reach $0.012, it must first break and sustain a position above the $0.007 resistance level. A daily candle close above this zone could rapidly open the path towards $0.0092 and subsequently the $0.012 target.
If the price is rejected again at $0.007, the upward movement might decelerate. However, the overall weekly structure remains bullish as long as TEL maintains its position above $0.0046.
Currently, TEL benefits from increasing volume, improving technical indicators, and analyst commentary highlighting a rare setup amidst a volatile market. If this observed anomaly plays out as anticipated, the next breakout above $0.007 could propel the Telcoin price towards the $0.012 mark.