Price Analysis

Theta Fuel (TFUEL) Technical Analysis 2021 for Crypto Trader

In Theta Fuel TFUEL Technical Analysis 2021, we use past statistics, price patterns, RSI, and much other information about THETA to analyze the future movement of the cryptocurrency. 

Theta Fuel (TFUEL) is considered to be one of the two native tokens on the Theta blockchain. More so, TFUEL is the governance token that is supported by thousands of community-run Guardian nodes and its Enterprise validators such as Google, Binance, Blockchain ventures, Gumi, and Samsung.

More so, TFUEL is the second token on the blockchain of Theta that works as the utility token in decentralized data and video delivery, it works as a gas token. Even more, this indicates that it is utilized to power all operations on the Theta blockchain.

Theta Fuel (TFUEL) Current Market Status

According to CoinGecko, the TFUEL price is trading at $0.6 with a 24-hour trading volume of $1,401,599,700, at the time of writing. However, TFUEL has increased by 10.4% in the last 24 hours.

Moreover, TFUEL has a circulating supply of 5,301,219,200 TFUEL and a maximum supply of 5,301,200,000. Currently, TFUEL trades in Binance, Upbit, Gate.io, Bithumb, and BitMart.

Theta Fuel TFUEL Technical Analysis 2021 

The recent development and upgrades might push Theta Fuel (TFUEL) to reach new heights. Now, let’s deep dive into the Theta fuel TFUEL technical analysis 2021. The daily time frame chart of Theta Fuel (TFUEL) is shown below.

TFUEL/USDT Channel Trend Pattern
TFUEL/USDT Channel Trend Pattern (Source: TradingView)

A bullish channel is a continuation chart pattern. This pattern is created by two parallel bullish lines. More so, the price progresses between these two parallel trend lines. Even more, the upper trend line is called the resistance line and the lower trend line is said to be the support line.

Theta Fuel (TFUEL) RSI, MACD, and MA

The below chart shows the Moving Average Convergence/Divergence (MACD) of TFUEL. Notably, the MACD (blue) stays above the signal indicator (orange line).  This indicates that cryptocurrency traders can still expect more bearish days ahead. 

In contrast, if the MACD begins to move below the signal indicator and performs a bearish crossover. Then the crypto has a high possibility of reaching new lows.

TFUEL RSI and MACD
TFUEL RSI and MACD (Source: TradingView)

Now let’s look at the relative strength index (RSI) of TFUEL. As shown in the chart above, the RSI remains at level 79. This shows that TFUEL’s price is in an overbought state. However, this may lead to major price reversal, however, traders need to trade carefully without any fear.

TFUEL’s Moving Average (MA) and Exponential Moving Average (EMA) is shown in the chart below. Moreover, MA is a part of technical analysis that helps traders to recognize trends. While EMA is a type of moving average.

TFUEL 30-day SMA and 50-day EMA
TFUEL 30-day SMA and 50-day EMA (Source: TradingView)

From the beginning of 2021, it is clear that the TFUEL price has shown many bullish patterns. Furthermore, taking all these into account, TFUEL could have a competitive market in 2021.

Conclusion

With the ongoing developments and upgrades that are taking place within the TFUEL platform. The cryptocurrency TFUEL has a fantastic future ahead in this crypto market. However, it is possible to see TFUEL reaching new heights.

Bullish TFUL price prediction 2021 is $0.67. As said above, it may reach great heights, however reaching $2 if investors have decided that TFUEL is a good investment in 2021.

FAQ

What is Theta fuel TFUEL?

Theta Fuel (TFUEL) is considered to be one of the two native tokens on the Theta blockchain. Moreover, TFUEL is the second token on the blockchain of Theta.

Where can you purchase TFUEL?

TFUEL is listed on many crypto exchanges that include Binance, Upbit, Gate.io, Bithumb, and BitMart. In which the crypto is available to be traded against fiat currencies, stablecoins, and other cryptos.

Will Theta fuel TFUEL reach a new ATH soon?

With the ongoing developments and upgrades within the TFUEL platform, it has the high possibility of reaching its ATH soon.

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.

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Carolyna Mavis

Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.

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