Secret (SCRT) and Tellor (TRB) Technical Analysis: What to Expect?
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Secret (SCRT) and Tellor (TRB) Technical Analysis: What to Expect?

May 27, 2021      Dalmas Ngetich

Tellor and Secret prices are recovering, with SCRT/USDT buyers aiming at $5. On the other hand, TRB/USDT prices could surge to $90 and $140.

Secret (SCRT)

SCRT powers the Secret Network–a platform that supports private smart contracts.

Past Performance of SCRT

Like most cryptocurrencies, the SCRT coin is bouncing off after last week’s pummeling.

Corrections were deep as SCRT lost more than 80 percent after peaking in February 2021.

At present, SCRT is up 10 percent against the USD and roughly 17 percent versus ETH and BTC.

Meanwhile, there is interest. Trading volumes are up 165 percent to around $4.9 million.

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Day-Ahead and What to Expect

The downtrend is still firm, as SCRT/USDT technical analysis of the daily chart reveals.

For instance, SCRT/USDT prices are below the middle BB, suggesting weakness.

It is, albeit the demand of early this week, that saw SCRT prices recover.

SCRT/USDT Technical Analysis

SCRT Price Daily Chart for May 27

SCRT/USDT prices are inching lower and bears, despite gains, are domineering.

As long as prices trend below March and April support—now resistance—at $2.3, bears have a chance.

Still, aggressive traders can buy the dips above $1 and target $2.3 in the immediate term. Further gains above $2.3 open SCRT prices to $5.

On the flip side, sharp losses below $1 invalidate the uptrend, building a case for more losses towards Q1 2021 lows.

Tellor (TRB)

The oracle provider based in the U.S. provides high-value data to Ethereum smart contracts. Its native token is TRB.

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Past Performance of TRB

After steady gains of the last five months, TRB prices corrected as market forces sought equilibrium.

At present, TRB is up roughly 11 percent against the USD, adding 15 percent versus ETH and BTC.

Backing bulls of the last few days are decent trading volumes which are up 49 percent on the previous trading day.

Day-Ahead and What to Expect

There are hints of strength, as TRB/USDT technical analysis reveal.

However, the pace of the uptrend and rewinding of last week’s gains depends on participation.

Volumes are rising. However, TRB/USDT prices are still below the 20-day moving average, signaling weakness.

TRB/USDT Technical Analysis

Tellor Price Daily Chart for May 27

From the daily chart, TRB prices found support at the 78.6 Fibonacci retracement level of the last five months at around $45.

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As long as TRB prices trend above this mark, every low may be a loading opportunity for aggressive buyers targeting $90 and later $140.

Losses below $45 nullify the uptrend, setting course for a possible dip to $15—Q1 2021 lows.

#DeFi #SCRT #SCRT/USDT #Secret Network #Tellor #TRB #TRB/USDT
Dalmas Ngetich
Dalmas Ngetich

Dalmas has been passionate about the blockchain and crypto space ever since he’s heard about it. As someone who’s been closely following the trends in the crypto space, Dalmas is excited about what lies ahead in this niche and is all set to explore it. While he’s been advocating crypto adoption for a number of years, he’s himself a HODLer, which makes his voice authoritative and credible.