Telcoin (TEL) recorded an increase of 13.3% in just 24 hours, accompanied by a trading volume explosion of up to 177%. This surge stems from testing the important short term support level at 0.00475 USD.
This altcoin is on a long-term upward trend, following a strong breakout in early November due to positive news. On November 12, Telcoin announced that it had received final charter approval from the Nebraska Department of Banking and Finance to launch the Telcoin Digital Asset Bank (, making Telcoin the first blockchain bank.
The flagship product of the bank, eUSD, will be the first US dollar stablecoin issued directly on-chain by a bank. “This demonstrates that a bank can responsibly issue digital currency on-chain while fully complying with the regulations of US authorities,” emphasized Paul Neuner, Founder and CEO of Telcoin.
This information has created a strong wave of demand for TEL, the native token of Telcoin. Just under three weeks after the announcement, TEL has increased by up to 83%. Technical analysis shows that the upward trend continues, but in the past 10 days, the market has been undergoing a consolidation phase, laying a solid foundation for the next advances.
Decoding the upward trend of Telcoin
![])https://img-cdn.gateio.im/webp-social/moments-3b482ef503f98061f2d7e31842c0f758.webp(Daily chart of TEL/USDT | Source: TradingViewThe 1-day timeframe shows that the previous downtrend was broken on 12/11, when the lower peak level of 0.003 USD)orange( was surpassed, paving the way for new swing points of the uptrend. The important bottom level of 0.00446 USD continues to serve as key support, helping the uptrend maintain stability. Meanwhile, the unbroken supply zone)white box( from 0.0056–0.0061 USD remains the resistance level to watch.
![])https://img-cdn.gateio.im/webp-social/moments-62ab3330001804616dce1b4d574900ff.webp(TEL/USDT hourly chart | Source: TradingViewOn the 1-hour chart, TEL is fluctuating within a 9-day )purple( range from 0.0047 to 0.0057 USD, with the midpoint of 0.0052 USD acting as both support and resistance in recent sessions. The OBV index has increased significantly in the last 24 hours, coupled with bullish signals from the MACD, indicating strong buying volume along with upward price momentum.
However, traders should not rush to expect a breakout. Instead, restraining FOMO and taking advantage of the extremes of the trading range to buy and sell TEL will be more effective, especially when the short-term price action and indicators still lean towards a bullish trend. In other words, TEL is not a coin to “buy immediately”, but a token suitable for short-term traders to take profits.
SN_Nour
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin Spot ETF Saw $760 Million in Inflows Last Week! But Whether the Rally Continues Requires Monitoring 3 Key Factors
US cryptocurrency spot ETFs showed a significant rebound last week, with Bitcoin and Ethereum recording net inflows of approximately $763.4 million and $160.9 million respectively, with prices bouncing back accordingly. Although the market is showing incremental buying signals, it still faces variables from central bank policies and geopolitical risks in the future. The market will continue to monitor ETF capital inflows and macroeconomic impacts.
CryptoCity14m ago
Market rally continues! Bitcoin returns to $75,000 level, ETF inflows persist
Bitcoin broke through $74,000 on March 16 as institutional capital flowed back into the market, with ETF net inflows reaching $1 billion, shifting market sentiment to bullish. Analysts predict Bitcoin could reach $80,000, but it is currently in a consolidation phase. $75,000 is a key resistance level; a breakout could lead to a test of $90,000, otherwise it risks a pullback.
区块客22m ago
MICA Daily | BTC Stable Above 30-Day Moving Average, Continues to Show Bullish Outlook
According to Binance data, Bitcoin's moving average convergence divergence indicator shows significant improvement in its price trend structure, with current trading price around $73,000, and moving averages in a divergent state, reflecting a market transition phase. Technical analysis indicates that the 30-day moving average is of high importance; if the price maintains above this moving average, it indicates buying support, otherwise it may enter a correction phase. Investors will judge the trend based on changes in moving averages.
区块客25m ago
Bitcoin Surges Toward $75,000: $600 Million Short Liquidations Drive Rally, ETF Inflows Emerge as Key Variable
On March 17, Bitcoin tested the 75,000 US dollar level driven by short liquidations, briefly reaching 75,653 US dollars before retreating. This rally was accompanied by massive liquidations totaling approximately 609 million US dollars in 24 hours, with shorts accounting for a significant proportion. Market sentiment has recovered somewhat, with capital inflows into spot demand and ETF support driving Bitcoin's rally. Future price movements will be influenced by sustained capital inflows and macroeconomic data.
GateNews1h ago
Matrixport: ETH Cumulative Pullback of 63% This Round, Options Gamma Hedging as Main Driver of Recent Rebound
Ethereum has declined 63% cumulatively in this cycle, reaching a low of $1,837, and is currently testing technical resistance levels. Price recovery is driven by options flow and gamma hedging, while fundamentals have not shown significant changes. ETF demand is recovering, but derivatives positioning continues to influence price action. Ethereum's movement has decoupled from traditional assets.
GateNews1h ago
