The cryptocurrency market has been going through a very active period in recent months and analysts are trying to predict the price movements of different digital assets. In this context, Analyst Altcoin Sherpa offered an interesting analysis for Tellor Tributes (TRB).
According to Altcoin Sherpa, Tellor Tributes appears to be preparing for a corrective move after rallying just over 300% since mid-August. By examining TRB’s price chart, this analyst examines what might be expected in the near future. guess did.
“TRB: These crazy games will eventually end, but this game has had a huge rally considering its market maker activities. “I expect to open a short position around $40 – $45.”
In the chart above, Altcoin Sherpa’s price targets are seen more clearly. According to the analyst, Tellor Tributes may experience a rebound towards the peak around $45, which it first reached earlier this month. However, after this rise, the price of TRB is expected to fall below $28.
Tellor Tributes is trading at $38.45 at press time.
A pseudonymous analyst covering Bitcoin (BTC) outside TRB thinks the leading crypto asset is poised to break above a significant resistance level.
“BTC: This volatility is emerging. “$28,000 is coming, don’t fight.”
Crypto analyst Ali Martinez also expressed a similar thought to Altcoin Sherpa regarding Bitcoin, which we reported as Koinfinans.com. According to Martinez, BTC’s on-chain activity shows that we are currently in the early stages of a bull run:
“Bull runs are often characterized by increased on-chain activity! This can be noticed when the monthly average (red) of new wallets exceeds the annual average (blue); This indicates that network foundations are strengthening and usage is increasing. Note that BTC on-chain activity is expanding despite stagnant prices, indicating that the BTC bull run may continue soon!”
You can follow the current price movement here.