CandleFocus

Tellor Price Tumbles As Whales Offload On Exchanges

Author: Content Editor
Recently, two major investors transferred a significant amount of Tellor tokens to the OKX exchange, accounting for 8.42% of the token's total supply. This has caused concerns over potential price volatility and led to a slight dip in the token's price. The current price of Tellor is $53.78, down 2.1% from the previous period. However, there is a potential for a breakout as the token is within the confines of a descending wedge pattern. The key support level is at $51.00, and a break below that level could lead to a possible downside target of $41. On the other hand, if bullish momentum continues, Tellor could move up to the $65.00 resistance with a continuation target of $100.00. The RSI is currently mildly oversold, but the MACD indicator is in a bearish posture. There is also a risk of long liquidations if the price drops below $45.85, while short liquidations could increase if the price goes beyond $53.78. Overall, there is potential for greater volatility in the Tellor token market.

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