TELUSDT Strong buy opportunity on this Golden Cross

KUCOIN:TELUSDT   Telcoin / Tether
The Telcoin (TELUSDT) is extending its magnificent run since the October 20 bottom with a new Higher High this week near 0.0033. The 1D MA50 (blue trend-line) also completed a full cross above the 1D MA200 (orange trend-line), forming the technically bullish Golden Cross pattern on the 1D time-frame for the first time since January 14 2021.

That was the beginning of a parabolic 5-month rally of +44600% that stopped with the 0.065 All Time High of May 11 2021. This time though, it looks as if the new rise is mirroring the fall since the All Time High itself. For a clearer illustration, we've plotted that on the price action since the August 13 high displayed by the green trend-line.

Assuming it continues, the rise appears to hit the May 11 2021 Lower Highs trend-line before making the first meaningful pull-back. For short-term traders of course, the target and first Resistance on the way up is the 1W MA50 (red trend-line), which has been keeping TEL below it since November 28 2021.


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