Telcoin Up By 18% – Time to Buy TEL?

Several assets have been leading the charge with the market.

The Telcoin price has been one of the most impressive so far, with the asset showing promising numbers on the charts.

Opportunistic investors might be wondering whether this is the right time to buy Telcoin and join another emerging wave. Below, we’ll look into what Telcoin is and whether it is a solid option to buy.

Telcoin: Bringing Crypto to Mobile Payments

Telcoin is one of those cryptocurrency projects that you might not hear about until they get significant mainstream attention.

Telcoin claims to be a financial technology that focuses on facilitating fast and cheap international money transfers. Think of it as Western Union or MoneyGram for crypto. Anyone can use it to send money to their loved ones, regardless of where they are.

Founded in 2017, Telcoin is based in Singapore. The project aims to partner with top names in the telecommunications industry to remove barriers between mobile money and billing platforms.

Paul Neuer, the project’s chairman, had amassed over a decade of experience working in the telecoms industry before founding Telcoin.

Claude Eugienta, the project’s chief executive, also has significant experience, being a Master’s degree holder with a focus on distributed systems.

Telcoin’s main focus is the global remittance market.

There are multiple mobile phones tied to a single bank account today, but people still queue up to send money from remittance agents and end up paying exorbitant fees.

With blockchain technology, Telcoin offers a low-cost, high-speed alternative. It works with mobile operators and online wallet service providers, allowing them to grow their user base with a contactless service.

67% of all retail investor accounts lose money when trading CFDs with this provider

A Big 2021 for Telcoin

Like many altcoins, Telcoin saw big gains this year. The Telcoin price didn’t start mooning until much later in the year. But, when the upsurge began, it was astronomical.

After starting the year trading at $0.00032, TEL jumped to $0.0092 on March 12.

Investors continued to buy Telcoin, with the asset’s price eventually hitting an all-time high of $0.06 on May 11 – that’s a gain of 18,650 percent!

The Telcoin price eventually got affected by the market downturn, dropping to a bottom of $0.0092 on May 19 – an 84 percent drop.

The asset has continued to climb, but successive downturns continue to affect it.

Also, with the market going through a bearish cycle, investors have been reluctant to buy Telcoin.

This week was a bit of a challenging one for Telcoin investors, with the Telcoin price finding a new low at $0.0089.

But, it soon rebounded. With a current price of $0.01634, the asset is up 18 percent in the past 24 hours – and an impressive 40 percent in the past week.

Telcoin Technical and Fundamental Analysis

There’s a lot to be excited about when it comes to Telcoin. The asset has a relative strength index (RSI) of 46.55, showing that it remains relatively underbought.

Also, its 20-day moving average (MA) of $0.1622.

It will take a bit for the Telcoin price to finally climb above the 20-day MA, essentially putting it in position for bigger gains.

With such technicals, there’s a lot of incentives to buy Telcoin.

Fundamentals are also pretty strong.

Telcoin has been expanding significantly this year, announcing in May that it had launched an upgraded protocol that enabled remittances between the Philippines and Canada.

According to the company, Canada is the first of four markets that Telcoin will enter for remittances.

The others will be Singapore, Australia, and the United States.

Telcoin also played a significant role in drafting the Nebraska Financial Innovations Act – a bill that will authorize the regulation of crypto depositories in the state of Nebraska.

Authored by state Senator Mike Flood (R) this January, the bill passed in May.

Buy Crypto at CedarFX, the World’s #1 trading platform!