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- 1 The TRB crypto is set for a dismal plunge, as it failed to break the resistance level and sunk to new lows from the current support zone.
- 2 The TRB crypto asset is demonstrating bearishness and downward momentum as it sinks below major trend EMAs.
Tellor was created in 2019 to solve the oracle problem on the Ethereum blockchain and other networks. Tellor’s oracle allows anyone to report data on-chain without permission, using open source software.
The data reporters compete to provide the value of an off-chain data point (e.g. BTC/USD) that is requested by oracle users, who can tip the feed with TRB tokens to increase the update frequency.
The data is submitted in bytes, which makes the oracle flexible and robust for almost any blockchain application.
Tellor was co-founded by Brenda Loya, Nick Fett and Michael Zemrose. Loya is the CEO while Zemrose is the CSO of Tellor.
Tellor’s native token, Tributes (TRB), is used to connect and align data reporters, oracle users, and community governance. Security is ensured through Tellor contract management, which uses a simple discussion process to reach community consensus on published information.
The data reporters have to stake TRB in order to report data and earn rewards, but they can be disputed and slashed, with their stake given to the disputer if they submit data which the network deems incorrect.
Tellor Price Analysis on Daily Chart
The TRB crypto experienced a dip of 3.14% in the last 24 hours, trading at $76.07. TRB crypto is set for a dismal plunge as it fails to break the resistance level and sinks to new lows from the current support zone.
However, if the TRB crypto price fails to stay above the $70 level, it could decline further.
The Tellor crypto asset is exhibiting bearish features and can reach lower levels. Its performance was poor last week and last month as well, by 2.37%, and 33.30% respectively, highlighting a strong downward force.
The TRB crypto asset is demonstrating bearishness and downward momentum as it sinks below major trend EMAs, subject to the sellers’ surge. The TRB token is showing bearish momentum and the RSI is falling steadily, indicating that the asset is not gaining steam and could continue to drop lower.
However, if the demand for the TRB Token remains high, the asset price could bounce back from the current level. The next goal for the TRB price is to reach $85.
Summary
The TRB crypto is set for a dismal plunge as it fails to break the resistance level and sink to new lows from the current support zone. The TRB crypto asset is demonstrating bearishness and downward momentum as it sinks below major trend EMAs, subject to the sellers’ surge.
The TRB token is showing bearish momentum and the RSI is falling steadily, indicating that the asset is not gaining steam and could continue to drop lower.
Technical Levels
Support Levels: $70
Resistance Levels: $85
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
