THETA FUEL Price Prediction: Is TFUEL Gearing up for $0.05?

• THETA FUEL Price Prediction highlights a strong downtrend with a decline of 34.98% in the last 3 Months.
• TFUEL Token declined 33.27% In the past year.

THETA FUEL Price Prediction conveys the strength of Bears as the prices witnessed a fall of 42% since the month of February. TFUEL Crypto is trading at $0.0354. The price is down 4.54% in the last 24H. The 24H trading volume saw a fall of 32.19%. The Total Market Cap is $221,761,689.

THETA FUEL powered AI healthcare platform-based token LAVITA will be listed on Bitmart starting 29TH June at 10:00 AM UTC. The crypto can be traded on BITMART using LAVITA/USDT.

THETA FUEL Price Prediction : Price breaks a descending channel- Retesting!

Source: THETA FUEL/USDT by TradingView:https://www.tradingview.com/x/Zx3jE25j/

On the Daily Chart, the TFUEL token fell under the bearish trap which forced the price to test a very critical support of $0.033. The Prices took a strong bounce of almost 40% which shot the prices to the resistance level of $0.043. TFUEL made an inverted pin bar right at the resistance which dictates the extreme selling pressure at the resistance

THETA FUEL Price Prediction suggests that the price broke a descending channel which has the potential to reverse the trend and a price target of almost 54%. The TFUEL Token is attempting to make a retest of this channel which may flip the bearish sentiments if successful. The Bulls are trying hard to sustain the breakout and push the prices up

Harsh rejection at the resistance: Technical Indicators

Source: THETA FUEL/USDT by TradingView: https://www.tradingview.com/x/0EgI6fR6/

On the 4H Chart, THETA FUEL Token witnessed a strong rejection from the support which is evident by the formation of the inverted hammer pattern with a long wick. This halted the minor uptrend and the prices are turning down. The final hope for the bulls is to get a bounce from the trendline of the channel.

If the Buyers do not show up, Prices can fall dramatically and can pose a big threat to the critical support level of $0.03307. Meanwhile, some investors are looking to buy the dip as the market is trading in the lows and this level can fetch extraordinary gains if the prices were to reverse.

RSI:

The RSI indicator is currently at 34.54 on the 4H. The price is moving to the oversold territory. The market is showing weakness

MACD:

The MACD indicator made a bearish crossover and has descended below the 0 line. This may indicate further bearish action.

200 EMA:

As observed, on the 4hr, the price is trading below the 200 EMA(exponential moving average) which acts as a significant resistance. This is a clear indication of a downtrend where the sellers are in control and for a trend reversal, the price must break and trade above the 200 EMA.

Conclusion:

THETA FUEL Price Prediction conveys the strength of bears as the prices witnessed a fall of 42% since the month of February. The Bulls are afraid to buy as fear of lower prices looms around. Technical Indicators suggest that TFUEL crypto is in a strong downtrend, Therefore a volume-supported retest of the downward channel is essential to extend the recovery phase. The Market is highly volatile and investors are advised to stay cautious. 

Technical levels

Support Levels: $0.0339- Support 1

$0.0307 – Support 2

Current Price: $0.0354

Resistance Levels: $0.0439 – Resistance 1

 $0.0501- Resistance 2

Disclaimer:

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.