Theta Fuel Price Prediction 2021 – Will TFUEL Hit $1 Soon?

Theta Fuel Price Prediction 2021 - Will TFUEL Hit $1 Soon?
  • Bullish TFUEL price prediction ranges from $0.42 to $0.62.
  • TFUEL price might also reach $1 soon.
  • TFUEL bearish market price prediction for 2021 is $0.29.

In Theta Fuel (TFUEL) price prediction 2021, we use statistics, price analysis, ADX, and many other information about TFUEL to analyze the future trend of cryptocurrency.

Theta Fuel is considered one of the two native tokens on the Theta blockchain. In addition, TFUEL is a governance token that supports thousands of community-run Guardian nodes and their enterprise validators, such as Google, Binance, Blockchain Ventures, Gumi, and Samsung.

Moreover, TFUEL is the second token in the Theta blockchain, which can be used as a utility token in the supply of decentralized data and video, as well as a Gas token. In addition, it shows that it is used to protect all transactions on the theta blockchain.

According to CoinGecko, the TFUEL price is trading at $0.42 with a 24-hour trading volume of $70,325,311, at the time of writing. However, TFUEL has increased by 3.3% in the last 24 hours.

In addition, TFUEL has a circulating supply of 5,301,219,200 TFUEL. Currently, TFUEL trades in cryptocurrency exchanges such as Binance, Upbit, Gate.io, Pionex, and Bithumb.

Theta Fuel (TFUEL) Price Prediction 2021

TFUEL holds the 47th position on CoinGecko right now. TFUEL price prediction 2021 explained below with a daily time frame.

TFUEL/USDT Price Chart Daily Time Frame (Source: TradingView)

The above chart shows the Descending Triangle patterns. This pattern is an inverted version of the ascending triangle and considered a breakout pattern. The bottom trendline should be horizontal and connect almost the same lows. The upward trendline decreases diagonally upward. The breakdown occurs when the price falls, and when the downtrend resumes, it is supported by a lower horizontal trendline. The lower trendline that was once supported now becomes resistance.

In the daily time frame chart,  if the price of the TFUEL breaks the resistance level of $0.5, it will reach the target of $0.60 and $0.67. Or else, if the price of the TFUEL breakout the support level of $0.38 means it will fall to the next support level at $0.35 and $0.29. So, the trend of the TFUEL is based on the breakout.

TFUEL Support and Resistance Level

The below chart shows the support and resistance level of TFUEL.

TFUEL/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frames, it is clear the following are the resistance and support level of TFUEL.

  • Resistance Level 1 – $0.42
  • Resistance Level 2 – $0.50
  • Resistance Level 3 – $0.56
  • Resistance Level 4 – $0.62
  • Support Level 1 – $0.38
  • Support Level 2 – $0.35
  • Support Level 3 – $0.29

The charts show that TFUEL has performed a bullish trend over the past month. If this trend continues, TFUEL might run along with the bulls overtaking its resistance level at $0.62.

Conversely, if the investors turn against the crypto, the price of TFUEL might plummet to almost $0.29, a bearish signal.

TFUEL Average Directional Index (ADX)

Now let’s look at the average directional index (ADX) of TFUEL. It is used to measure the overall strength of the trend and it is related to the Directional Movement Index (DMI).

The oscillator ranges from 0 to 100. Moreover, a high price indicates a strong trend, and a low price shows a weak trend.  

TFUEL/USDT ADX(Source: TradingView)

The above chart shows the ADX of TFUEL stays above the range of 18, so it indicates a weak trend.

Conclusion

TFUEL is one of the cryptocurrencies that keeps its ground against the bear market. Furthermore, our long-term TFUEL price prediction for 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $0.68 this year. However, this only happens when TFUEL breaks a lot of past psychological resistance.

Furthermore, with the ongoing developments and upgrades within the TFUEL ecosystem, it could experience a great future ahead in 2021. It may reach $0.75 soon and it might even reach high heights, however reaching $1, if investors have planned that TFUEL is a good investment in 2021.

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Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.