TRB has surged by 86% over the past month.
Tellor (TRB) functions as a decentralized Oracle protocol that updates crucial off-chain data for on-chain smart contracts. Its permissionless reporter system sets it apart from other oracles, as it allows anyone to become a reporter using open-source software.
This inclusivity is a unique feature in the blockchain industry. When users need off-chain data like the BTC/USD price, reporters compete to provide this information to ensure smart contracts have the most accurate data available.
Price Today
As of 29 May 2024, Tellor Tributes (TRB) is priced at $108.98, and its 24-hour trading volume stands at $76,369,529.53. Over the past day, the price has dropped by -4.67%, and in the last 7 days, it has declined by -4.00% . With a circulating supply of 2.6 Million TRB, the market cap of TRB is valued at $281,930,763.
TRB Technicals
The price is trading within a falling wedge chart pattern and is currently rebounding from the horizontal support zone. A breakout above the wedge would provide bullish confirmation, so keep an eye on it.
The TRB/USDT chart shows a falling wedge pattern, typically a bearish signal. The price is currently at 108.56 USDT. For a short position, consider entering below 106 USDT, with a stop-loss set above 112 USDT. Target prices are 95 USDT and 85 USDT. The confidence level for this setup is high.
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Price History
TRB has been on a negative trend from the past week, with a 4.0% drop.
Over the past month, TRB has skyrocketed by a whopping 86.4%, bringing its current value up by an impressive $101.96 on average. With such a rapid surge, investing in TRB could be a wise move at this very moment, especially if it continues to climb.
The all-time high price for Tellor Tributes was $593.09, reached on Dec 31, 2023 (around 5 months ago). In comparison, the current price is 81.60% lower than the highest recorded price.
On the other hand, the all-time low price for TRB was $0.01001 back on Nov 01, 2019 (over 4 years). Right now, the current price is a whopping 1,089,800.05% higher than that record low.
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Price Prediction
The price of TRB in the month of June 2024. The minimum trading price is $99.72 while the maximum price is expected to be $101.61. On average, the price of Tellor is expected to reach $100.67 during this month. The potential return on investment is estimated to be 82.4%.
Conclusion
TRB (Tellor) is currently priced at $108.98 with a market cap of $281.930.763. It’s worth noting that TRB is currently following a bearish falling wedge pattern, but there’s a chance of a bullish breakout that could indicate a positive trend. Over the past week, TRB has experienced a 4% decrease, while in the last month, it has seen an impressive 86.4% increase.
Setting proper stop-loss levels and constantly taking the associated risks into account are crucial, though.
