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- 1 It has presented poor performance, as it deteriorated approximately 40% of the gain, implying a steady fall.
- 2 The Tectum emission Token sank to lows by breaking previous swing lows and forming (B-o-S) Break of structures in the downside.
Tectum crypto is a platform that utilizes a distributed ledger technology (DLT) with a distinctive and unique algorithm for addressing record change signatures. It has an feature that permits it to reserve hashes that link back to the authentic data stored at a lower level, rather than on the blockchain itself.
Tectum functions on a proprietary Proof-of-Utility (PoU) consensus for its consensus algorithm. It is a first in the industry that targets optimized data distribution, which authorizes the protocol to validate and distribute more than a million digital transfers per second, creating a potential overlay on the network.
TET crypto’s current price is $28.107 with a fall of 3.45% in the last 24 hours and trading volume across all tracked volumes of TET in the last 24 hours is $1,698,071.
The coins circulating with a tradeable intent by the public are 7,245,356, this circulating supply with respect to the current price makes it the market cap, which is at $202,420,697. Based on market cap TET is ranked 228 on the Coingecko website, and from last week market cap is declining and the price is dropping as well.
The Price Movement Of TET Crypto On the Daily Time Frame
The TET crypto exhibited a strong resurgence earlier on the chart, as the price advanced from a pivotal level of around $10 on the charts. The crypto showed a spectacular rally with almost 350% gains. it smashed through resistance levels.
However, the TET crypto showed a sign of weakness due to instability at the top level, and as a result of the instability in the price, the asset’s price retreated from the critical level of around $45 on the charts.
In the last 15 days, it lost approximately 40% of the gains, implying a steady fall.
The Tectum emission Token is set for a dismal plunge, as it fails to break the top resistance level and sinks to lows by breaking previous swing lows and forming (B-o-S) Break of structures in the downside.
Therefore, if the crypto price fails to stay above the $26 level, it could decline further.
On the flip side, if the demand for the TET surges, the asset price could bounce back from the current level and could surge to test the supply region. The next goal for the price is reach $35.
The TET asset is showing bearish weakness and falling potential as it drops below 20-Day EMAs, based on the selling pressure advancement, could conquer dynamic supports of greater EMA’s as well.
Furthermore, the TET asset is in a strong downtrend as MACD shows a bearish cross and the RSI is at 49, which exhibits no signs of oversold conditions, suggesting that the crypto asset has more room to fall.
Summary
The TET crypto showed a sign of weakness due to instability at the top level, and as a result of the instability in the price, the asset’s price retreated from a critical level of around $45 on the charts.
The 40% drop signals the start of a steady downtrend. If the crypto price fails to stay above the current level, it could decline further.
Technical Levels
Support Levels: $26
Resistance Levels: $35
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.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
