In new technical analysis, the Theta Fuel blockchain network provides a robust end-to-end infrastructure for video streaming and delivery. It provides quick solutions to both technical and real-life economic problems. The Theta token is the prime governance token of this ecosystem while the Theta fuel token (TFUEL) is the gas token of this network.
On April 19, 2021, TFUEL started trading at $0.32. As of April 25, 2021, TFUEL closed at $0.27. Thus, in the past week, the TFUEL price has declined by roughly 16%. In the last 24 hours, TFUEL has traded between $0.26-$0.29.
Day-Ahead and Tomorrow
Currently, TFUEL is trading at $0.29. The price has increased from the day’s opening price of $0.27. Thus, the market seems to be uptick.
The MACD and signal lines are positive. Thus, the overall market momentum is bullish. However, a bearish crossover by the MACD line over the signal line has occurred. Hence, we can expect a brief price pullback amidst a rising price trend.
The RSI indicator is currently at 52%. It faced rejection at 62% and fell to the current level. Thus, selling pressures are building up. Hence, we can expect the price to start declining.
The A/D indicator is upward sloping. This implies that whale accumulations are higher than whale distributions. High demand for crypto will push its price upwards. Hence, we can expect the price to rise further.
When we look at all the oscillators together, we can say that the overall price trend is positive, but intermittent price pullbacks can be expected as a part of the price correction process.
TFUEL Technical Analysis
As per technical analysis, currently, the price is above the first Fibonacci pivot resistance level of $0.28. If the positive market momentum continues, we can expect the price to surpass the subsequent resistance levels of $0.29 and $0.30 respectively, in some time.
The price has tested and broken out of the 23.6% FIB retracement level of $0.28. It may soon break out of the 23.6% FIB extension level of $0.30. Thus, as of now, the market seems strongly bullish, and we can expect the price uptrend to continue today as well as tomorrow.