Tellor is a decentralized, transparent and permissionless oracle protocol that supplies data that can be requested, validated and put on-chain permissionlessly with data reporters competing for incentives of TRB. Data reporters bring valuable information on-chain for a wide range of DeFi applications. Anyway, TRB analysis is straightforward; after TRB made a 5 waves upward impulse wave, it went into correction which unfolded in a complex pattern. Then, TRB broke the major downtrend line and went up strongly. This kind of momentum signals bright future; also, waves count confirm such potential too. Let's see what happens.
Note
So, TRB went up pretty well. After wave i ended, correction started, which took TRB down to 0.618 Fib retracement. It seems correction wave ii is also finished. Now, besides the 1-2-3-4-5 waves pattern, there could be a second scenario in which an A-B-C pattern unfolds. In this case, waves A and B are finished, and wave C is unfolding. Let's see how high TRB's wave iii can go.
Trade active
Just an update; TRB is ready to break the triangle correction pattern. Let's see what happens.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.