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 in a bullish trend 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.

Stay informed 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: Will the pump and dump history repeat itself?

While other altcoins are faltering under bearish pressures, the TRB market is recording quite some gains. To examine the future sustainability of this trend, Tellor Tributes' price prediction for 2024 paves the roadmap.

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 $132. However, this led to a slight retracement to the $80 support mark. The uptrend resumed swiftly, and by December, TRB had surpassed the former resistance, now testing $230. 
 

This period saw TRB achieve a new all-time high (ATH) close to $600. This 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, $132 was re-established as a resistance level, which the price failed to overcome multiple times from January through mid-February. 

By April, the price had dipped below the $80 level but found some stability at $49. This served as a base for another price surge, pushing it above the former once again by the end of April.
 

AMBCrypto reported a 29% increase in daily active addresses over the last month, indicating a growing interest in the TRB network. The token’s Weighted Sentiment also suggested that the market sentiment was overwhelmingly 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 over the past month.
 

As the analysis concluded, TRB was trading at $131, closely challenging the persistent resistance at $132. Given the continuation of this rally, 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 gain momentum, the price can fall back closer to $80. Meanwhile, a move below it can push TRB as low as $49. 

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 On-Balance Volume (OBV) rose sharply from mid-August until late December. This was followed by a slight downtick, with the indicator stabilizing in a relatively flat trajectory. However, towards the end of April, it ascended again to register at 79.512 million. This pointed to a resurgence of buying pressure.
• A detailed look at the Directional Movement Index (DMI) revealed that the ADX line fell below the -DI line at the beginning of the analysis. The +DI line also followed suit between June and mid-July and then again briefly in mid-August before returning to its dominant position.
• Concurrently, a significant turnaround occurred as both the +DI and the ADX line started to rise while the -DI declined. By September, the ADX surpassed the -DI. Additionally, between November and December, as well as from January onwards, it also exceeded the +DI, reflecting strengthening momentum.
• However, as the price dropped after facing rejection at the peak resistance, the ADX and +DI line descended slightly while the counterpart rose. This was quickly reversed in April. At the time of writing, the values were ADX at 57.4926, +DI at 47.4210, and -DI at 15.2591. These values reflected a strong uptrend.
• 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 to 10.567 million, marking it as the highest volume noted during the analysis period. 
• Despite this peak, a continuous decline in volume was noted thereafter. Nonetheless, the recent uptick was accompanied by a surge in volume, suggesting renewed investor interest.