Alien Worlds (TLM) Technical Analysis: Has the Growth Wave Ended?
Two months of successful trading. If it was necessary to make a brief analysis of the TLM market, it would be just that. Since the end of September, the TLM market has started a new growth wave. The reversal process was unconventional. No high trading volumes were recorded before the start of growth. Buyers did not organize any consolidation ranges to accumulate the position. The critical point was $0.16. It was by keeping it on the weekly timeframe that buyers announced their ambitions and readiness to build a new growth trend.
In two months, the TLM price increased by 260%, which is a good result, given the realities of the cryptocurrency market. The main achievement of buyers for the previous two months is a break of the main critical range of $0.33-$0.37. As we can see in the weekly timeframe, the TLM price traded below this range for 4 weeks. After the breakdown of the price zone of $0.33-$0.37, buyers tested the range of $0.6. But, we see that the current weekly candle has every chance to close with the pin down. Could this mean the end of the growth wave and the beginning of the correction? Let's understand it in a smaller timeframe.
Technical Analysis of TLM in the Daily Timeframe
Going to a more detailed chart, we can see that the TLM price is moving in a clear growth channel from 27 October. Attempts by buyers to accelerate growth by breaking the channel's upper trend line failed. The daily candle from 26 November has already absorbed the two previous candles of buyers. The main critical zone at the moment remains $0.33-$0.37. If buyers manage to keep this range under their control, we will witness an acceleration of the growing trend of buyers. However, the fall dynamics of the TLM cryptocurrency indicate a high probability of the lower trend line test of the growth channel near the mark of $0.29-$0.3. In this scenario, we do not rule out the fact that the growth channel broke down to $0.19. This is a good price to buy TLM in the long run.
The TLMBTC Price Went Beyond the Consolidation Triangle
Given the collapse of the BTC price on 26 November, the TLMBTC price is quite confident. It took two weeks for buyers to finally break the upper trend line of the triangle, whose price was traded from April 2021. After the breakdown of the liquidity zone 0.00001-0.000013, buyers will open the door to a new powerful growth wave. After the retest of this range, it will be quite safe to get the TLM cryptocurrency in your investment portfolio.
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