Tellor Price Prediction: TRB rises 8.2% as world’s first AR/VR cryptocurrency ICO reaches $6 million.

adminMay 5, 2024

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Teller prices have surged 8.2% over the past 24 hours, trading at $68.84 as of 4:30 a.m. ET.

TRB price also surged nearly 30% this week. On May 3, the Total Value Locked (TVL) soared to over $5 million.

Teller (TRB) TVL Chart | source: Dipilama

Teller Price Prediction: Bullish Scenario for TRB

If you look at the Tellor price chart, you can see that it is forming a “Bullish Pennant” pattern, which is usually a continuation pattern. This pattern emerged after a significant upward move (flagpole), followed by a consolidation phase forming a converging triangle. Price consolidation within a narrow range, indicated by converging trend lines, usually predicts a potential upward breakout.

If TRB breaks above the pennant with increasing volume, this could signal a continuation of the previous uptrend. A breakout above the pennant will often move it above the height of the previous flagpole, potentially targeting a new high above the $80.00 mark.

Woodies CCI, on the other hand, displays two lines oscillating around the zero line, which helps identify cyclical changes in price. This line is near the zero point and suggests neutral to slightly bullish sentiment as the price consolidates within the pennant.

1-hour TRB/USD chart | source: TradingView

Teller Price Prediction: TRB on the downside

Conversely, if the teller price fails to break above the pennant and instead falls below the lower trend line, it could indicate a reversal or deeper correction. A drop below the pennant and a violation of the $44.00 support could trigger further selling and potentially push the price towards lower support levels that are not currently visible on the chart.

Looking at other indicators, the current Money Flow Index (MFI) is at 37.59, which is neither overbought nor oversold. This supports the consolidation phase typically seen in the pennant pattern. However, a sharp southward trajectory could signal increased selling pressure supporting the bearish outlook.

Meanwhile, while the price direction of Teller appears uncertain, the world’s first AR/VR cryptocurrency 5thScape Funds raised through pre-sale exceeded $5.7 million.

The market capitalization of AI/gaming could easily reach $100-120 billion next year. 3-4 times here.
There will be numerous 20-30x coins running from 10-30 million to 300-1 notes.
We will see several 40% pullbacks during boring periods. chill. Don’t do anything.
— Alex Becker 🍊🏆🥇 (@ZssBecker) March 17, 2024

A promising alternative

5thScape is breaking new ground by combining encryption technology and VR/AR.

5thScape says its virtual reality environment will allow users to visualize complex market data, play thrilling games, attend virtual meetings and interact with digital currencies in ways that traditional interfaces cannot replicate.

🎮 Calling all VR and MMA fans! Prepare to be amazed, as 5thScape is set to redefine virtual combat with “MMA Cage Conquest.” This game takes you into the heart-pounding world of MMA in VR. 🥊
🌟 Get ready for the release of “MMA Cage Conquest” in the meta… pic.twitter.com/MHbKgKHIxb
— 5th Scape (@5th_scape) May 3, 2024

VR games offer everything from heart-pounding adventures to exciting cricket and football, all with an immersive and unforgettable gaming experience. It also promises rich educational content, captivating animation, and blockbuster movies.

At the heart of the 5thScape platform is the project’s crypto token, 5SCAPE. This token provides users with access to a variety of utility reach features and provides: It is a single medium of exchange that can be used to easily move value across the ecosystem, including game purchases and staking.

Michael Wrubel, a cryptocurrency analyst and YouTuber with 312,000 subscribers, said he is bullish on 5SCAPE.