Tensor Price Prediction: What Next In TNSR Price?
Tensor, the leading NFT marketplace on Solana, has become a significant player in the NFT trading space, handling around 60-70% of Solana’s NFT volume daily. Launched in July 2022, Tensor quickly rose to the top spot in less than a year due to its fast and professional trading experience. Since then, it has remained the go-to marketplace for Solana NFT collectors and traders, offering the widest coverage of the latest projects.
However, despite its dominance in the Solana ecosystem, Tensor’s native token, TNSR, has faced considerable volatility, raising questions about its future price trends.
Tensor Price (TNSR) on the Technical Chart
TNSR has been trading in a falling wedge pattern, struggling below the 20- and 50-day moving averages. This technical setup indicates prolonged bearishness, though such patterns are often seen as potential reversal indicators. Despite its recent downtrend, the price of TNSR saw a slight recovery last week, rising by 5.10%, signaling a possible shift in sentiment.
In the past six months, TNSR has plummeted by 82.07%, with a 60% decline over the last three months and a 5.17% drop in the last month. However, recent bullish activity could suggest that the market is stabilizing, and investors may be looking for buying opportunities at lower prices.
Tensor (TNSR )Statistics
- All-Time High: $2.23 (April 8, 2024)
- Current Price: $0.33 (85.15% lower than ATH)
- All-Time Low: $0.25 (August 5, 2024)
- Current Price: 32.65% higher than the ATL
- Market Cap: $41,428,757
- Circulating Supply: 130 million tokens
- Fully Diluted Valuation (FDV): $331,430,055
The token’s trading volume in the past 24 hours was $12,834,714, reflecting a 3.60% decrease, indicating declining market activity. However, the 5.10% price rise over the last week may signal some bullish sentiment returning.
TNSR Price Prediction
Given the recent price movements, TNSR could be poised for a short-term rebound. The falling wedge pattern suggests that the prolonged bearishness may come to an end, possibly leading to a breakout. If TNSR manages to hold its recent gains and push above key resistance levels, it could test the $0.40 mark in the short term. However, any broader recovery towards its all-time high would depend on renewed interest in the Solana NFT ecosystem and the overall crypto market conditions.
The current consolidation phase might offer traders an entry point, but caution is advised, as further downside risk exists if TNSR fails to maintain support.
Conclusion
TNSR’s price has been under pressure, trading far below its all-time highs. Despite the bearish sentiment in recent months, the token has shown signs of recovery in the past week. While TNSR could see a short-term breakout, traders should monitor the broader market and Solana NFT activity closely. For now, Tensor’s role as the leading NFT marketplace on Solana remains intact, but its token’s long-term trajectory will depend on market dynamics and continued innovation within the platform.
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Disclaimer
This article is for informational purposes only and does not constitute financial advice. Please conduct your own research before making any investment decisions.
