Future

Tellor

<ul>
 <li><em>Tellor traders could see a bounce to $150 or $180.</em></li>
 <li><em>The market structure was bearish on the H12 chart.</em></li>
</ul>
<p><a href="https://ambcrypto.com/search/tellor" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Tellor [TRB]</a> rose to $629 on 31st December and dipped to $121 just eight hours later. According to <a href="https://www.coinglass.com/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">Coinglass</a> data for that day, the TRB contract saw the highest amount of contracts wiped out. Its momentum has been bearish since then.</p>
<p>AMBCrypto <a href="https://ambcrypto.com/ethereum-hosted-tellor-pumps-and-dumps-73-mln-liquidated/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">reported</a> that the Tellor team deposited TRB shortly before the prices soared. This meant that the team was likely involved in dumping the tokens. How do traders navigate these perilous waters?</p>
<h4><strong>Both long and short positions could assume large amounts of risk entering into positions here</strong></h4>
<div id="attachment_362330" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2024/01/PP-1-TRB-price.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-362330" decoding="async" class="size-full wp-image-362330" src="https://statics.ambcrypto.com/wp-content/uploads/2024/01/PP-1-TRB-price.png" alt="Tellor volatility presents traders opportunities, but also with heightened risk" width="1940" height="976" srcset="https://statics.ambcrypto.com/wp-content/uploads/2024/01/PP-1-TRB-price.png 1940w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/PP-1-TRB-price-300x151.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/PP-1-TRB-price-1024x515.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/PP-1-TRB-price-768x386.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/PP-1-TRB-price-1536x773.png 1536w" sizes="(max-width: 1940px) 100vw, 1940px"></a>
 <p id="caption-attachment-362330" class="wp-caption-text">Source: TRB/USDT on TradingView</p>
</div>
<p>At the time of writing, TRB was trading at $134. To the north, the $143.9 and $185 were high timeframe levels of resistance. In particular, the $185 zone presented a large obstacle to TRB bulls in the latter half of December.</p>
<p>Technical analysis of the lower timeframe price charts showed that the $150-$155 zone rebuffed the bulls on 5th January. Hence, it is possible that short sellers could wait for another bounce to this area before shorting.</p>
<p>Alternatively, they can wait for a move to the $177-$190 region (red box) before selling. This would be a higher probability trade given the importance of the $180 region in the past. Yet, such a bounce might not materialize.</p>
<p>The RSI was below neutral 50 to highlight the firm bearish momentum. The OBV also took a huge dive lower, and buying pressure has been minimal. The Open Interest behind TRB contracts dived on 6 January, reflecting the fearful sentiment.</p>
<h4><strong>The liquidation heatmap agreed with the technical analysis</strong></h4>
<div id="attachment_362329" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2024/01/PP-1-TRB-hyblock.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-362329" decoding="async" class="size-full wp-image-362329" src="https://statics.ambcrypto.com/wp-content/uploads/2024/01/PP-1-TRB-hyblock.png" alt="Tellor volatility presents traders opportunities, but also with heightened risk" width="1866" height="1014" srcset="https://statics.ambcrypto.com/wp-content/uploads/2024/01/PP-1-TRB-hyblock.png 1866w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/PP-1-TRB-hyblock-300x163.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/PP-1-TRB-hyblock-1024x556.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/PP-1-TRB-hyblock-768x417.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/PP-1-TRB-hyblock-1536x835.png 1536w" sizes="(max-width: 1866px) 100vw, 1866px"></a>
 <p id="caption-attachment-362329" class="wp-caption-text">Source: <a href="https://hyblockcapital.com/liquidationlevel-heatmap" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">Hyblock</a></p>
</div>
<p>AMBCrypto noted that the Hyblock liquidation heatmap of TRB showed a noticeable pocket of liquidations at $195 and $235. The $150 area did not have a sizeable amount of estimated liquidation levels.</p>
<p style="text-align: center;">Is your portfolio green? Check the <a href="https://ambcrypto.com/calculator/tellor-profit-calculator" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Tellor Profit Calculator</a></p>
<p>Since liquidity attracts prices, we could see a bounce toward $200. The importance of the $180 area has already been highlighted.</p>
<p>The confluence from the heatmaps meant swing traders could wait for a move to the $180-$200 area. They can gauge the lower timeframes for a spike in selling pressure and enter short positions if warranted.</p>
<p><i>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.</i></p>

Tellor prices slide to $120 after hitting $600 – Future predictions?

AMBCrypto

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