Last week, as Bitcoin bounced after briefly falling below $30,000, many altcoins began their own rescue rally. Phone currency (Telephone) Is one of a large class of digital assets whose prices soared on July 21.
However, unlike most of its peers, the upward trend of TEL remained active throughout the week, resulting in an increase of 82% and 43% against the US dollar and Bitcoin, respectively.Bitcoin) More than 7 days.
In view of the market dynamics at the time, many traders may simply attribute this performance to the oversold rebound of the entire market-but is there a way for traders to discover the potential for this huge upside as soon as possible?
TEL’s second wave
TEL is a practical token of Telcoin, which is a blockchain protocol designed to promote affordable mobile-based remittances worldwide. Telcoin is built on the Ethereum blockchain, and tokens are traded on a series of centralized and decentralized exchanges.
At the peak of this week’s outstanding performance, TEL reached a value of $0.022.This is still far below the all-time high of the token set in May, when the second layer was migrated to QuickSwap and the protocol was upgraded saw The asset doubled its value tenfold in more than a week, reaching the upper limit of $0.060.
This time, the motivation for TEL’s moon landing program may come from a series of favorable developments. Earlier this month, the company completed a round of US$10 million in financing and launched a new Telcoin platform stack and two new user-owned decentralized finance (DeFi) products. also, Some observers pointed out Since the AI-driven tool “DeFI Agents” was launched on the Fetch protocol, the protocol saw a surge in user attention.
The price increase chart is not the only ranking for Telcoin to top this week.Before its spectacular rebound, the coin also set a record VORTECS™ score This week it was 92. This value indicates that the algorithm is extremely confident that the prospect of TEL has become bullish. Traders who have noticed this have the opportunity to join the ensuing earnings event early.
Detect when history rhymes
This VORTECS™ score, Exclusively for subscribers of Cointelegraph’s data intelligence platform Market Professional Edition, Is a quantitative style indicator that compares several key market indicators of each token in real time based on years of historical data.
Ultimately, given the historical record of price action, this indicator assesses whether the current outlook of the asset is bullish, bearish or neutral.
The price of TEL rose sharply on July 21, jumping from $0.009 to $0.015 in just 15 hours. Inevitably, after such a violent rebound, a callback will inevitably occur. However, TEL is closely followed VORTECS™ score The shot was higher than 80 (red circle in the picture) and eventually reached 92.
By convention, a score higher than 80 corresponds to the high confidence of the model, that is, in the past, market and social activity patterns that are similar to the current observed market and social activity patterns have always followed significant prices within 12 to 72 hours rise.
In the case of a TEL score of 92, the algorithm detects that throughout the entire history of the asset, this rebound tends to recover after a short rebound. In fact, about 24 hours after the VORTECS™ line turned dark green, the second rise of TEL began, and the token fell from $0.014 to $0.021 (the first and second red boxes).
In the cryptocurrency market, just like anywhere else, history will not repeat itself completely-but it often rhymes.When history is represented by quantifiable indicators, like VORTECS™ score You can help traders make decisions by reminding traders of the conditions where rhythm is most likely to occur.
As for TEL, the persistently extremely high VORTECS™ score suggests that—and the health of the entire crypto market allows it—the asset may rise further. Judging from historical precedent, the coin does not seem to have exhausted its bullish momentum.
Cointelegraph is a publisher of financial information, not an investment advisor. We do not provide personalized or personalized investment advice. Cryptocurrency is an unstable investment and carries significant risks, including permanent loss and total loss. Past performance does not predict future results. The figures and diagrams are correct at the time of writing or otherwise specified. The strategy of real-time testing is not a recommendation. Before making a financial decision, consult your financial advisor.