Telcoin is the native medium of exchange, reserve asset and protocol token of the Telcoin user-owned, decentralized financial platform. Anyway, Telcoin technical analysis is straightforward; when the upward phase ended, a correction phase started which ended at 0.618 Fib retracement. Then TEL made an inverted Head and Shoulders pattern and just recently TEL broke the Head and Shoulders' neckline; that means reversal confirmed. Let's see how high TEL can go.
Note
So, TEL went up, then correction started which toke TEL down near the right shoulder's low. Now, it seems correction is finished and TEL is trying to break the first minor downtrend line. Also, a harmonic pattern is formed too. Let's see what happens.
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So, TEL broke the downtrend lines and went up, reached the major horizontal resistance area again. Let's see if TEL can break through this area and advance toward ATH.
Note
So, TEL is breaking lines and areas one after another and going up. There is going to be correction once reached channel's upper line. Let's see what happens.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.