Tellor (TRB) and xDai (STAKE) Technical Analysis: What to Expect?

Dalmas  |  Jun 24, 2021

Tellor and xDai prices exhibit signs of strength against what appear to be insurmountable sell pressure. STAKE/USDT and TRB/USDT prices might still overcome respective resistances at $45 and $11.

xDai (STAKE)

Behind the xDai payment network facilitating transfers is STAKE. Using this token, stakers contribute to securing the base layer and for consensus.

Past Performance of STAKE

STAKE prices are in range, oscillating within a $4 zone, with caps at $11 to the upside and $7 as the immediate support level.

Notably, STAKE buyers have reversed losses of June 22, which had relatively high trading levels, reading from price action in the daily chart.

At the time of writing, STAKE is stable, adding eight percent, albeit with shrinking trading volumes.

Day-Ahead and what to Expect

Provided STAKE/USDT prices are above $7, buyers have the upper hand.

However, this is not to dismiss bears who are still in charge as long as prices are below $11—the immediate resistance and last week's highs.

At spot rates, STAKE gains of H1 2021 have been reversed following losses of May and June 2021.

STAKE/USDT Technical Analysis

STAKE Price Daily Chart for June 24

There is a double-bar bullish reversal pattern with clear support at $7.

Reading from STAKE/USDT candlestick arrangement, every low may provide a buying opportunity with targets at $11.

Sustained gains above $11, preferably with rising trading volumes, may trigger demand, lifting STAKE to $15—or better.

Tellor (TRB)

Developers of this oracle solution are in the U.S. and are behind another protocol, Daxia. TRB is the primary token.

Past Performance of TRB

The path of the least resistance remains southwards from a Top-down perspective.

In the short term, buyers may rewind losses now that TRB/USDT is trading within a bear breakout pattern, as price action in the daily chart shows.

Following gains of June 23, the TRB token is up nine percent against the USD.

Day-Ahead and what to Expect

After stellar gains, TRB is down over 80 percent from peaks, as the Fibonacci retracement tool of the last six months shows.

At present, TRB is trading within a bear breakout pattern with identifiable resistance at $45.

Besides, the middle BB is a noteworthy reaction point since bulls have, thus far, failed to close above this line.

TRB/USDT Technical Analysis

TRB Price Daily Chart for June 24

Trading volumes are decent.

From the daily chart, $45 is the immediate resistance level. Even though bulls can load the dips, TRB/USDT prices are within June 21 bear bar—which is a net negative for optimistic bulls.

Nonetheless, immediate targets are at $45.

Losses below $30 nullify the uptrend.

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