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The Tellor price has surged 8.2% over the last 24 hours to trade at $68.84 as of 4:30 a.m. EST.
The TRB price has also soared almost 30% this week, coinciding with a spike in its Total Value Locked (TVL) to more than $5 million on May 3.
Tellor (TRB) TVL Chart | Source: DefiLlama
Tellor Price Prediction: TRB’s Bullish Scenario
Looking at Tellor price charts, we see it is forming a “Bullish Pennant” pattern, typically a continuation pattern. This pattern emerged after a significant upward movement (the flagpole), followed by a consolidation phase forming a converging triangle. The price consolidation within a narrowing range, marked by converging trendlines, generally anticipates a potential breakout upwards.
If TRB breaks above the pennant on increased volume, it could indicate a continuation of the prior upward trend. A breakout above the pennant often results in a move at least the height of the preceding flagpole, potentially targeting new highs beyond the $80.00 mark.
On the other hand, the Woodies CCI shows two lines oscillating around a zero line, which helps identify the cyclical turns in price. The lines are near the zero mark, suggesting a neutral to slight bullish sentiment as the price consolidates within the pennant.
1-hour TRB/USD Chart | Source: TradingView
Tellor Price Prediction: TRB’s Bear Case
Conversely, if the Tellor price fails to break above the pennant and instead breaks below the lower trendline, it could signal a reversal or a deeper correction. A drop below the pennant and subsequent breach of the $44.00 support might trigger further sell-offs, potentially driving prices toward lower support levels not visible on the current chart.
Looking at other indicators, we see the MFI (Money Flow Index) is currently around 37.59, which indicates neither overbought nor oversold conditions. It supports the consolidation phase typically seen in a pennant pattern. However, its sharp southern trajectory could suggest increasing selling pressure which supports the bear prospects.
Meanwhile, with the Tellor price direction looking uncertain, the world-first AR/VR crypto 5thScape has surged past $5.7 million in funds raised in its presale.
The market cap of both ai/gaming can easily get to 100-120 bil in the next year. A 3-4x from here.
There will be countless 20-30x coins that make runs from 10-30 mil to 300-1 bill.
We will see multiple 40% pull backs n boring periods . Chill. Do nothing.
— Alex Becker 🍊🏆🥇 (@ZssBecker) March 17, 2024
A Promising Alternative
5thScape is breaking new ground by combining crypto technology with VR/AR.
5thScape says its virtual reality environment enables users to visualize complex market data, play thrilling games, attend virtual conferences, and interact with digital currencies in ways that traditional interfaces cannot replicate.
🎮 Calling all VR and MMA aficionados! Get ready to be blown away as 5thScape is about to redefine virtual combat with "MMA Cage Conquest" – a game that thrusts you into the heart-pounding world of MMA in VR. 🥊
🌟 Brace yourselves for the "MMA Cage Conquest" launch on the Meta… pic.twitter.com/MHbKgKHIxb
— 5th Scape (@5th_scape) May 3, 2024
Its VR games offer everything from heart-pounding adventures to mind-blowing cricket and soccer, all with an immersive and unforgettable gaming experience. It also promises enriching educational content, mesmerizing animations and blockbuster movies.
At the center of the 5thScape platform is the project’s crypto token, 5SCAPE, which offers users access to a range of utility-reach features and provides a single medium of exchange that can be used to move value easily in the ecosystem, including for buying games and staking.
Crypto analyst and YouTuber Michael Wrubel, with 312k subscribers, says he’s bullish on 5SCAPE.
5SCAPE will list at the price of $0.01 per token, which means that buying now at only $0.00327 locks in gains of almost 206% by the time of launch.
If you are interested to buy 5SCAPE, do so now before an imminent 15% price increase.
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