Tellor Cryptocurrency Recorded 20% Growth: Will TRB Exceed $125 Next Time?
- Over the past 24 hours, the GRT value has increased by 20%.
- Its key performance indicators suggest the altcoin continues to enjoy strong demand.
Tellor (TRB), a decentralized oracle protocol, extended its 30-day gains, rising another 20% in the last 24 hours, according to data CoinMarketCap.
Despite significant bearish sentiment, the altcoin bucked the overall market trend and recorded gains last month.
According to CoinGecko’s According to the data, the capitalization of the global cryptocurrency market decreased by 15% during this period due to low trading activity.
However, TRB’s value has risen 32% during this period, resulting in it changing hands at $114.60 at the time of writing.
TRB is where to go
An assessment of TRB price movements on a one-day chart confirmed the high demand for altcoin from market participants. Its key momentum yielded high readings at press time.
For example, the token’s Relative Strength Index (RSI) was 75.96 and the Money Flow Index (MFI) was 91.75.
At these values, these indicators showed that market participants give preference to the accumulation of ART rather than its distribution.
Source: TRB/USDT on TradingView.
However, it is pertinent to note that the values of these indicators indicate that the altcoin may be overbought. At these levels the market is considered overheated and a price correction usually occurs.
Confirming the rise in demand for TRB, an on-chain assessment of the token’s network activity showed that the number of its daily active addresses has increased by 29% over the past month.
While other crypto assets are languishing under bearish influence, TRB’s market metrics showed a significant bullish presence at the time of publication.
The token’s weighted sentiment at the time of writing was 6.98, confirming that bulls have significant control, according to Sentiment data.
On price charts, the points that make up the Parabolic SAR TRB are located below its price. This indicator determines possible trend directions and reversals.
When the dotted lines are below the price of an asset, the market is said to be in an uptrend. This indicates that the price of the asset is rising and may continue to rise.
Source: TRB/USDT on TradingView.
Whether it’s real or not, here is TRB’s market cap in BTC.
Regarding the profitability of TRB investments, AMBCrypto found that over the past month, for every TRB transaction that ended in losses, 1.04 transactions resulted in profits.
This suggests that market participants have made more profits than losses when trading altcoins over the past 30 days.
This is an automatic translation of our English version.