Tower price refers to the highest price or the highest price achieved by an asset, security, or currency within the span of the observation period, be it short, medium, or long term. In the context of two-way currency trading, the tower price is not only the highest point, but the tower price is also the lowest point reached, which is also called the support and resistance point.
Tower prices are one of the technical trading tools, especially contrarian traders where they will wait until the price touches or at least approaches the highest or lowest price of the previous period of observation, and then takes the opposite direction to the price movement. Suppose today we see the movement of USDJPY soared to reach 149.29, then fell. This level of 129.29 is the tower price for the observation period, then maybe the price will go down again. If the price then returns to the 149.29 level, contrarian traders will take a short position.
In another sense, TOWER Price refers to the price of TOWER crypto tokens, i.e. tokens built under the Etherum blockchain system. Token tower was created as a medium of exchange, utility, and the Crazy Kings game franchise which has more than 2 million users worldwide. Crazy Kings is an adventure and tower defense game where players can collect power cards with limited supplies. These cards can be used to enter games, buy items, or as a condition for participating in Crazy Kings game tournaments, and players can get these TOWER tokens when playing Crazy Kings games or known as play to earn.
Currently written, on the coinmarketcap site, the price of the TOWER crypto is at $0.004973 or Rp. 75,- market capitalization of $3,209,110 and supply circulation of 645,520,024.00 TOWER, and it is predicted that the price will increase if the popularity of the Crazy Kings game gets higher.
This term is used to make it easier for traders and investors to name the highest price level of a financial instrument. So if, for example, there are two traders discussing a forex pair, such as GBP/USD and want to know what the highest level is, they just ask “what is the tower price for GBP/USD?”, their friend will automatically understand and answer the highest price for GU.
The forerunner of the term tower price
With the development of telecommunications technology, we often find transmitter towers in various corners of cities and villages to help people communicate using cellular networks and the internet. Usually the transmitter tower is made high enough so that it looks towering above the surrounding buildings. This condition later became the forerunner to the merging of the word “tower” with “price” resulting in a new phrase “tower price” referring to the highest price of a financial instrument.
Tower price is very rarely used
If we are active enough in the environment of traders and investors, such as those found in forums and social media, it will be known that the term “tower price” is very rarely used, even the author himself has never seen fellow forex and stock traders discussing this term with each other. It is possible that this term never existed and was only introduced by a handful of traders and investors who wanted to be different.
In forex trading, there is the term highest high to refer to the highest price of a pair, while in stock trading, especially in USA, there is a term to the moon to refer to the highest price.
