Telcoin Price Prediction: Will the Triangle End in Recovery or a Decline?

Perhaps the biggest news that could shape Telcoin price predictions in the next few weeks is the release of V3: the third version of the Telcoin wallet. This comes as the crypto project launches its digital remittance service in 15 new markets. 

The V3 upgrade will enhance the existing crypto wallet and generate increased uptake in the US, Singapore, and Australia: three of Telcoin’s identified key markets. 

The current projections allow for the service to be available to more than 300 million customers globally when fully launched across all existing partner platforms.

Telcoin’s V3 wallet launch is expected on iOS and Android platforms at the end of June. The TEL/USDT pair is trading 0.1% lower as of writing.

Technical Levels to Watch

The daily chart features the Fibonacci retracement trace from the swing low of 5 March to the swing high of 11 May 2021. Then we have the prevailing pattern, which is a symmetrical triangle amid the corrective decline from the 11 May high. 

One outlook sees the pattern as a continuation pattern, and therefore will look for a price break below the triangle’s lower border. This move would target the 61.8% Fibonacci retracement level at 0.02678, with additional targets at 0.2302 and 0.02000. Finally, 0.01635 (78.6% Fibonacci level and 23 May low) also serves as a downside target if the decline is extensive and should be the endpoint to the measured move from the triangle’s resolution.

On the other hand, the triangle may signify a bottoming of the correction. This outlook would look for a breakout, targeting 0.04143 (38.2% Fibonacci retracement) initially. Additional targets to the north include 0.04832 and 0.05977.

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TEL/USDT Daily Chart

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