Telcoins breakout gains strength: Can TEL sustain its push toward $0.005?

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Telcoins breakout gains strength: Can TEL sustain its push toward $0.005？

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Leveraged traders rapidly increased exposureSource: CoinGlassTEL reclaimed a critical resistance zone

TEL reclaimed the $0.0030 resistance after rebounding sharply from the long-term demand zone near $0.0019. The breakout followed months of sideways movement across the lower range of the daily structure.

Buyers gradually regained control after price repeatedly respected support throughout April and early May. The recovery then accelerated once TEL pushed above the previous consolidation ceiling around $0.0030.

Price later approached the next resistance near $0.0040 as bullish pressure strengthened further. However, the broader structure still showed heavy resistance between $0.0040 and $0.0050 on the chart.

If bulls clear that upper resistance cluster successfully, TEL could extend its recovery toward higher levels. Otherwise, traders could revisit the reclaimed $0.0030 support before another breakout attempt emerges.

RSI climbed above 85 on the daily chart as bullish acceleration intensified rapidly during the breakout. That reading placed TEL deep inside overbought territory after the recent price expansion.

The indicator had previously remained below neutral levels throughout most of the prolonged consolidation period.