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- 1 Tectum crypto price is showing a consolidation of approx four weeks near the 50-Day EMA.
- 2 The TET crypto currently trades at $28.99 recording an intraday drop of 2.02%.
The TET crypto price is consolidating in a tight range near the 50-Day EMA. The $31 and $25 levels are the upper and lower boundaries of the consolidation respectively.
The daily chart shows that the crypto is witnessing a short term correction phase after suffering rejection from the upper levels. The TET crypto maintained a positive outlook till the first week of January and continued to edge higher until it reached a major resistance level near the $50 level.
Furthermore, the crypto could not sustain higher and dipped lower after suffering rejection from the supply zone. However, the buyers took control soon and stabilized the price near the $25 level which was the previous breakout zone.
Tectum Crypto Analysis in Short Term
Currently, the TET crypto is experiencing consolidation in a tight range with support at $25 and resistance at $31. The short term trend is indecisive until the crypto is maintained in the range.
The breakout or breakdown on either may be the deciding trend for the crypto. Now, Any breakout above the $31 level may be considered as a domination of buyers in the overall trend and the crypto may resume forming higher highs and higher lows.
Whereas, if the buyers fail to hold above the 50-Day EMA and the TET crypto witnesses a breakdown. It may turn the trend volatile and indicate the continuation of the correction phase.
Tectum Crypto Technical Analysis
From a technical perspective, the Tectum crypto is fluctuating around the 50-Day EMA suggesting a correction phase going on. As per the EMA analysis, the TET crypto exhibits a sideways to bullish trend at the moment.
Looking forward at the RSI indicator, RSI was currently placed at 52.58 near the mean line. Whereas, the SMA line was at 49.36 points. Both the RSI line and SMA line hover near the mean line suggesting a sideway to bullish outlook.
Tectum Price Prediction for February 2024
The positive view of analysts predicts an upside potential of nearly 20% in February 2024, if the crypto breaks out of consolidation. It could take the TET token price near the recent swing high at $37.9.
On the other hand, the bearish view of analysts hopes for a breakdown of the consolidation and 50-Day EMA after which the crypto could retrace the lower levels of $20 and $18.
Tectum Price Prediction for 2024
The price prediction for 2024 shows that the TET token may advance to a high of $52.67 by the end of 2024. The less optimistic analysts estimate a price target of $41.06 by the end of the year.
Tectum Price Prediction for 2025
Over the next two years, The TET price may hit the $77.4 mark, suggesting an upside potential of 171.28% by 2025. The pessimistic view is that the price could reach $54.78 by the end of the financial year 2025.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
