Theta Fuel (TFUEL) Technical Analysis 2021 for Crypto Trader

Theta Fuel (TFUEL) Technical Analysis 2021 for Crypto Traders

In Theta Fuel (TFUEL) Technical Analysis 2021, we use past statistics, price analysis, RSI, RVOL, and much other information about TFUEL 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 CoinMarketCap, the TFUEL price is trading at $0.3199 with a 24-hour trading volume of $63,300,595, at the time of writing. However, TFUEL has increased by 0.26% in the last 24 hours. 

In addition, TFUEL has a circulating supply of 5.30B  TFUEL. Currently, TFUEL trades in  Binance, Tokocrypto, Upbit, Gate.io, and ZT

Theta Fuel (TFUEL) Technical Analysis 2021 

Theta Fuel (TFUEL) holds the 57th position on CoinMarketCap right now. The recent development and upgrades might push TFUEL to reach new heights. Now, let’s deep dive into the TFUEL technical analysis 2021. The daily time frame chart of Theta Fuel (TFUEL) is shown below.

   TFUEL/USDT Head & Shoulder Pattern (Source: Tradingview)

The above chart shows the Head & Shoulder pattern. This pattern is a chart that appears as a baseline with three peaks, the outside two are close in heights and the middle is highest. Head and shoulders pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal

TFUEL trades in a range of $0.3. If the price breaks the trend line support level of $0.28 then it will lead to a further drop up to the $0.19 Level. If the pattern continues to the top side, then it will reach the $0.67 level soon.

Theta Fuel (TFUEL) RSI

The below chart shows the relative strength index (RSI) of TFUEL. 

TFUEL RSI (Source: TradingView)

As shown in the below chart, RSI remains at 48.04. This shows that TFUEL’s price is in neither an overbought nor an oversold state. However, this shows that traders can trade carefully.

Theta Fuel (TFUEL) RVOL

The below chart shows the Relative Volume of TFUEL. RVOL is an indicator that represents to traders how the current trading volume has changed over a period of time compared to the past trading volume.

TFUEL RVOL(Source: TradingView)

Notably, in the last week of June, it is found that the RVOL of TFUEL observed is weaker. Currently, the RVOL of TFUEL remains below the cutoff line which represents the weaker participants in the current trend.

Theta Fuel (TFUEL) Moving Average

TFUEL’s Moving Average (MA) is shown in the chart below. Moving Average is a part of technical analysis that supports traders to find trends.

TFUEL MA (Source: TradingView)

Currently, TFUEL is in a bullish state. However, TFUEL price touches 50 MA (short-term), and it has a high chance of moving above the 50 MA level. TFUEL price is above 200 MA (long-term). Moreover, there is a high possibility of a trend reversal at any time.

Theta Fuel (TFUEL) Price Comparison With Bitcoin

The below chart shows the price comparison between TFUEL and BTC. 

TFUEL vs BTC Price Comparison chart(Source: TradingView)

From the chart, we can identify the trend of the BTC and TFUEL is moving at the same level as the trend. This indicates when the price of BTC increases or decreases, the price of TFUEL also increases or decreases respectively.

Conclusion

With the ongoing developments and upgrades that are taking place within the TFUEL platform. Theta Fuel has a great future ahead in this crypto market. However, TFUEL can reach new heights.

Bullish TFUEL price prediction 2021 is $ 0.67. As mentioned above, it may reach great heights, however reaching $0.7, 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, Tokocrypto, Upbit, Gate.io, and ZT. 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 a 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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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.