Last week, as Bitcoin resurged after briefly falling below $xxx,000, a good number of altcoins embarked on their ain relief rallies. Telcoin (TEL) was among this large group of digital assets whose prices shot up on July 21.

Unlike most of its peers, however, TEL's up tendency remained live for the entire week, leading to a respectable 82% gain against the dollar and a 43% gain against Bitcoin (BTC) over a vii-mean solar day period.

Given the market place dynamics of the time, many traders may merely attribute this functioning to a marketwide oversold bounce — merely was there a manner for traders to spot the potential for this tremendous run early on?

TEL's second moving ridge

TEL is the utility token of Telcoin, a blockchain protocol designed to facilitate affordable mobile-based remittances globally. Telcoin is built on the Ethereum blockchain, and the token trades across a range of centralized and decentralized exchanges.

At the height of this week's first-class functioning, TEL reached the value of $0.022. This is all the same way below the coin's all-fourth dimension high registered in May, when a layer-two migration to QuickSwap and a protocol upgrade saw the asset multiply its value tenfold in just over a week, hit the ceiling at $0.060.

This time effectually, the fuel for TEL's moonshot likely came from a combination of favorable developments. Earlier in the month, the house closed a $x-million fundraising round and simultaneously introduced a new Telcoin platform stack and two new user-owned decentralized finance (DeFi) products. Additionally, some observers noted that the protocol saw a fasten in user attention resulting from the launch of the AI-driven tool "DeFI Agents" on the Fetch protocol.

The cost increase chart was not the only ranking that Telcoin topped this week. Ahead of its spectacular rally, the coin likewise recorded the highest VORTECS™ Score of the week at 92. This value indicated the algorithm'south ultra-loftier confidence that the outlook for TEL had become bullish. Traders who took listen had a chance of joining the ensuing gainsfest early.

Detecting when history rhymes

The VORTECS™ Score, exclusively available to the subscribers of Cointelegraph's data intelligence platform Markets Pro, is a quantitative-style indicator that offers a real-fourth dimension comparison of several fundamental market metrics around each coin based on years of historical data.

Ultimately, the metric assesses whether the current outlook for this asset is bullish, bearish or neutral given the historical record of price action.

TEL price vs VORTECS™ chart. Source: Cointelegraph Markets Pro

The price of TEL rose sharply on July 21, jumping from $0.009 to $0.015 in just 15 hours. Inevitably, subsequently such a baking rally, a correction was bound to occur. Withal, this was followed past TEL'south VORTECS™ Score shooting above eighty (the red circle in the graph) and eventually reaching 92.

By convention, scores higher up eighty correspond to the model's high conviction that in the past, patterns of marketplace and social activity like to those currenctly observed were consistently followed by significant price increases within 12 to 72 hours.

In the example of TEL's score of 92, the algorithm detected that throughout the nugget'due south history, such rallies have tended to resume afterwards brief periods of recoil. Indeed, some 24 hours afterward the VORTECS™ line went dark green, a second leg of TEL'south hike unfolded, taking the coin from $0.014 to $0.021 (the beginning and second red boxes).

In the cryptocurrency market, much like anywhere else, history doesn't exactly echo itself — but it ofttimes rhymes. When history manifests in quantifiable metrics, an industry-grade artificial intelligence tool similar the VORTECS™ Score can help traders' controlling past alerting them to the atmospheric condition nether which a rhyme is most likely to emerge.

As for TEL, a continuing stretch of extremely high VORTECS™ Scores suggests that — the overall crypto market's health permitting — the asset could be in for a further price hike. Judging from historical precedent, it seems that the coin has not yet exhausted its bullish momentum.

Cointelegraph is a publisher of financial information, not an investment adviser. Nosotros do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant chance including the risk of permanent and total loss. By performance is not indicative of future results. Figures and charts are right at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial advisor before making financial decisions.

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