Tellor — Ichimoku Signal Indicates 5% Dip!

30 HazOur algorithms identified a bearish Ichimoku signal for TRB on the 4H chart. The signal indicates a 4%-5% setback.

Here are the details 👇
TRB printed an Ichimoku signal on the 4H chart. The signal combines various Ichimoku indicators and validates the direction on higher timeframes. As a result, it is considered highly reliable.

Backtest Details 🧐
The signal has solid backtest results. Based on 7 historical signals, TRB dipped over 5% after signals flashed in 72% of their occurrence.

Other Technical Indicators 💹
Trend indicators are mainly bearish, whereas momentum indicators show a mixed picture.

What about the chart 📊
TRB is currently showing an uptrend after forming a bottom in early/mid-June. Therefore, based on the chart, a further price increase is likely. However, the Ichimoku price target perfectly fits the U-shape.

As a result, a possible scenario could be another retest of the U-shape before TRB continues going higher.