Tellor (TRBUSD) Price Forecast: January 2
The TRBUSD pair is likely to bounce off the support line and break through the resistance level at $448.08 shortly. As a result, a sharp breakout and close above the current correction phase at the $265.48 high value will invalidate any bearish thesis, and the price may reach the upper level of $500.00 and beyond.
Key Levels:
Resistance Levels: $261.00 $262.00, $263.00
Support Levels: $190.00, $189.00, $188.00
TRB (USD) Long-term Trend: Bullish (Daily Chart)
TRBUSD remains bullish on the higher time frames. This is clear as we can see the prices trading in red above the moving average, indicating an uptrend. However, the coin price could bounce off the support level soon as it remains in an uptrend.
The bulls’ pressure on the coin to a $265.28 high level in the past few days has made it possible for the price to maintain an uptrend in its recent high.
Today, actions from the short-term traders dropped the price of Tellor to an intra-day low of $125.00 value above the supply levels. This indicates an uptrend in the context of the strength that buyers remain dominant and have the market price at their disposal at the moment.
Thus, if the bulls can put extra effort into the price action and break above the $265.28 supply mark, the coin price could bounce off the support line and put further selling pressure into hibernation.
Meanwhile, further downsides are unlikely as the market price of TRBUSD has reached the oversold region. The coin will resume an uptrend soon, as a result, the crypto price could bounce off the support line to hit the $500.00 upper resistance level in the near days in its long-term perspective.
TRB (USD) Medium-term Trend: Bearish (4H Chart)
The TRBUSD pair portrays a bearish market trend in its medium-term outlook. Meanwhile, the coin price could bounce off the support line to face the resistance levels soon. 
The bears’ performance on the crypto in the past few hours has made the price stay below the moving average in its recent price levels.
The price responded to the shift in the market structure and is currently below the moving averages at the $209.57 high value as the 4-hour chart opens today.
If the bullish momentum persists, a breakout above the accumulation zone of $448.08 level with a candle closing will signal a strong buy signal for interested traders.
Meanwhile, further downsides are unlikely as the market price of Tellor has reached the oversold region.
The coin may likely bounce off the support level soon, so we can now grow in confidence that a potential buy is coming near. If this is achieved, a $500.00 high value might be the target in the coming days in its medium-term outlook.
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