Telcoin price has increasingly become volatile in the past week, with most trading sessions recording price ranges of over 20 per cent. For instance, despite today’s trading session being down by only a percentage point, Telcoin price has ranged by 15 per cent between its price high and price low.
The current volatility in the market started on November 4, when the Telcoin price surged by 18 per cent. Although the session was followed by a drop of 2 per cent, the November 6 trading session recorded a surge of 17 per cent.
On Monday, Telcoin surged by more than 25 per cent in the early hours of the session before closing the markets with a 15 per cent gain. By Tuesday, reports of FTX struggling had started to cause havoc in the markets and resulted in Telcoin dropping by 20 per cent, which was followed by another drop of almost 30 per cent on Wednesday.
However, during yesterday’s trading session, Telcoin started an aggressive push to the upside, wiping out losses made on Wednesday after prices surged by 45 per cent. However, in today’s trading session, Telcoin looks to have resumed the week-long bearish trend and is currently down by a percentage point.
Looking at the chart below, the past week’s volatility is poised to continue for the next few trading sessions. Today, despite Telcoin being down by a percentage point, its price range from high to low has been above 15 per cent, and at one point, it was down by over 10 per cent.
However, despite leaning heavily toward a bearish trend, my Telcoin price prediction expects it to resume its aggressive push to the upside. This is based on today’s intraday trading, which has been heavily bullish and has seen prices rising by over 8 per cent from the session’s lows. There is a high likelihood that we might see Telcoin hitting the $0.0024 resistance level again. However, a trade below the $0.0015 price level will invalidate my bullish analysis. It will also signal the start of another bear trend.
This post was last modified on Nov 11, 2022, 14:45 GMT 14:45