Among the cryptocurrencies that have risen this year, Telcoin may be one of the most surprising ones. It is not directly related to BTC, nor is it the most hyped digital currency today.
But for those in the know, Telcoin has been around since 2017 until now. It recently made headlines after reaching nearly $0.0649 on May 11, 2021.
Can Telcoin reach $0.05 in 2022? We'll find out soon. But before we start our Telcoin price analysis, let's answer the "what is Telcoin?" situation. In this TEL forecast 2022 article.
What is Telcoin (TEL)?
Telcoin (TEL) is a decentralized digital currency based on Ethereum. It was developed in Singapore in July 2017 as a bridge between digital currency, blockchain and telecommunications platforms. The project aims to work with leading companies in telecommunications platforms such as Verizon and AT&T to clear up the friction that still exists between payment platforms and moving money.
The main target of Telcoin is the remittance market, with Western Union currently being the notable leader. Telcoin is working with global telecommunications and mobile money companies to provide customers with high-speed, low-cost data transfers to mobile money platforms and e-wallets.
Telcoin (TEL) is an ERC-20 token based on the Ethereum blockchain. TEL is used in the Telcoin ecosystem to make payments on e-commerce sites.
Now that we have an idea of TEL, do you think TEL will become a profitable digital currency in 2022? Join me as we look at the charts in this TEL price analysis and TEL price forecast.
Telcoin (TEL) Current Market Status
As of writing this Telcoin (TEL) price analysis, TEL is trading at $0.00168 with a 24-hour volume of $2,559,752. More importantly, the price of TEL has increased by 2.68% in the past 24 hours.
Additionally, according to CoinMarketCap, TEL currently has a circulating supply of 61.63BTEL. Currently, TEL`s top cryptocurrency exchanges are KuCoin, HitBTC, Bilaxy, 1inchExchange, and Bitbns.
Now, let's move on to the next part of our 2022 TEL technical analysis.
Telcoin (TEL) Price Analysis 2022
Currently, Telcoin (TEL) is ranked 248th on CoinGecko. But will the latest upgrades, developments and changes of the TEL blockchain help the digital currency price reach even higher? Let`s move on to the chart in this TEL price prediction article.
A Keltner channel is a technical analysis indicator used to determine the direction of a trend by measuring the volatility above or below a candlestick. From the Keltner channel signal for TEL/USDT, we can infer that the price of Telcoin may be bullish on some days, as the price almost breaks the first half of the channel from the top. However, in the long run, the price may be bullish, as top digital currencies such as BTC and Ethereum have turned bearish from their recent bullishness.
The Relative Strength Index (RSI) considers the relative momentum of the magnitude of recent price changes to infer an oversold or overbought property. The RSI value on the 1Day chart is 59.11. This shows that Telcoin is showing a strong trend as its RSI is between 50 and 70. If investors reposition themselves as customers or merchants, the value could be either bullish or bearish.
As can be seen from the above figure, the 200-day moving average is higher than the 100-day moving average, which means that long-term investors will make profits. However, since the gap between the two moving averages is large and both moving averages are above the candlesticks that have occurred recently, the price of the coin may continue to rise.
