Tellor Tributes Price Prediction: 2024, 2025, 2030

TRB price prediction: Key highlights

1. Primary support and resistance levels

• Within the weekly time frame, a support level of $10 was identified as the lowest point.
• Conversely, a price level of $230 can likely stand out as the highest resistance mark.

2. Market sentiment

• The asset remains slightly bullish in May 2024.

3. Predictive forecasts

• Based on forecasts from our AI/ML algorithms, TRB is projected to trade at an average price of $1,000 in 2029 and more than $2,000 in 2032.

Discover essential information on TRB’s future trajectory via a comprehensive weekly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

TRB technical analysis: Investor confidence remains high

While other altcoins were faltering under bearish pressures, the TRB market deviated from this trend. Thus, Tellor Tributes' price prediction for 2024 paves the way for examining the future sustainability of this trend.
 

The initial period highlighted a notable selling pressure, causing the price to drop below its lowest established support level of $10 in June. However, the asset made a recovery, reclaiming this level by the end of the month. 

After stabilizing at this price level, an uptrend ensued. This was triggered by the whales’ significant accumulation of TRB tokens during August and September, with these entities purchasing tokens at around $15 each. 
 

By November, TRB approached and tested an upper resistance level at $145. However, this led to a slight retracement below the $90 support mark. The uptrend resumed swiftly, and by mid-December, TRB had surpassed the former resistance. Following this, it tested the highest resistance at $230. 
 

This period saw TRB achieve a new all-time high (ATH) close to $600. It represented a 2,000% increase in Q4 2023 amid continuing significant activity from whales. Additionally, the ecosystem analysis revealed that approximately 1.7 million of the total 2.5 million circulating TRB tokens were held on exchanges. Out of this, a notable concentration—660,000 coins were held by just 20 investors, representing about 95% of the circulating supply at the time.

However, this peak was shortly followed by a dramatic pump-and-dump event, where the price plummeted. The fallout from this event included TRB contract liquidations surpassing $60 million. Following this turmoil, $145 was re-established as a resistance level, which the price failed to overcome in mid-January and mid-February. 

By April, the price had dipped below the $90 level but found some stability at $48. This served as a base for another price surge by the end of April. In early May, the bulls successfully flipped the former level into support. Simultaneously, the token tested $145. 
 

During this time, AMBCrypto reported a 29% increase in daily active addresses in a month, indicating a growing interest in the TRB network. The token’s Weighted Sentiment also suggested that the market sentiment was bullish. Moreover, TRB transactions were more profitable than not, with approximately 1.04 transactions resulting in a profit for every transaction that ended in a loss.

Yet again, the price faced rejection but didn’t stoop to previous lows. As the analysis concluded, TRB had slightly recovered to trade at $108. Given the continuation of this rally with strong investor backing, the token can likely overcome this resistance, paving the way for reclaiming the ATH within 2024.
 

Notwithstanding, it’s important to consider the bearish possibilities. If bears regain momentum, the price can fall back closer to $90, losing its three-digit valuation. Meanwhile, a move below it can push TRB as low as $48. 
 

The projection for TRB based on predictive algorithms suggests a promising future. By 2029, the models envision the token to be traded at an average price of $1,000, reflecting significant growth potential from its current levels. Looking ahead to 2032, the forecasts become even more optimistic, with TRB potentially exceeding a price of $2,000.

TRB's 2024 roadmap: Key indicators to watch and trade

• The trading volume grew significantly as prices appreciated in August. By October, the volume tapered off slightly but remained considerably higher than its earlier levels. As the token attained an ATH, the volume spiked as well.
• Despite this peak, a continuous decline in volume was noted thereafter. Nonetheless, the recent uptick was accompanied by a surge in volume. While it dampened slightly, it still suggested renewed investor interest.
• The Chaikin Money Flow (CMF) briefly dropped below the zero line between late May and mid-July, followed by another short dip in September. The indicator turned to negative values by January 2024 and continued to descend until late April. 
• Thereafter, it reversed its course and began to recover, culminating in moving above the zero line in late May. As the analysis concluded, the CMF stood at 0.07. This highlighted a resurgence in accumulation.
• At the start of the analysis, the Moving Average Convergence Divergence (MACD) line dropped below the signal line, with both lines remaining below the zero line. In mid-July, the MACD line regained its dominant position and continued to rise, moving past the zero line in early September. The signal line followed suit by mid-month. 
• The MACD line ascended until late December, after which it experienced a continued decline, pushing it below the signal line in late January. Between mid-April and early May, the MACD line even turned negative. However, it swiftly recovered to make a bullish crossover. At press time, the MACD line stood at 4.44, the signal line at 4.18, and the histogram at 0.26.