Theta Fuel (TFUEL) Price Prediction – When will TFUEL hit $0.50?
Theta Fuel (TFUEL) is a native token of the Theta Network, a blockchain-based video sharing and delivery platform that runs as an ERC 20 utility token. There are two native tokens under the Theta Network where the major operation is done through TFUEL, not THETA. Theta Lab introduced the Theta mainnet in 2019, but this coin grabbed massive investors' attention from its major upgrade, the mainnet 3.0 launch in 2021.
Theta Network's main aim is solving plague streaming service and content delivery network problems. These sectors include a high level of quality loss and delivery costs where Theta’s algorithm can incentivise nodes by utilizing computing resources and unused bandwidth.
Another strong fundamental background is its two-layer validation system. The Theta Network is bringing new updates to line 1-click delegated staking, NFTs support etc. The broader crypto market faced massive selling pressure in recent weeks with no sign of recovery. According to some prominent analysts, stable job growth with lower inflation would be the first sign for crypto bulls.
Let’s see the TFUEL price prediction from the Theta Fuel Forecast today:
TFUELUSD Recovered From The 0.0384 Support Level
In the TFUELUSD chart, the market trend from the April 2022 peak remained strongly bearish below the dynamic 20 EMA. However, a minor bullish pressure appeared from the 0.0525 support level that failed to hold the momentum above the 0.0755 level. As a result, bears regained momentum with a potential double top pattern and made a new bearish swing low at the 0.0384 level.
The above technical analysis shows how the price buyers’ interest is above the 0.0525 resistance level. In the indicator window, the Relative Strength Index shifted its direction from the oversold 30 areas with divergence with the price. Therefore, new higher highs in the daily chart should come up with the support of divergence, indicating a trend reversal.
In the Theta Fuel Price Prediction, the current selling pressure below the 0.0675 static level is backed by the dynamic 20 EMA resistance that may extend the momentum below the 0.0300 level. On the other hand, bulls should wait for a strong recovery where a new bullish daily candle above the 0.0755 would be the first sign of a bullish trend.
TFUELUSD Ichimoku Cloud Analysis
According to the Ichimoku Cloud TFUEL Coin Price Prediction, TFUELUSD trades within a strong bearish trend where the recent price is stable below the Kumo Cloud. Moreover, in the future cloud, Senkou Span A and Senkou Span B move sidelined, indicating fewer traders’ activity in the market. Moreover, the Lagging Span moved above the current price, which shows a trend reversal.
This technical analysis shows buyers' activity is strong from the Traders Dynamic Index, where the TDI line peaked at the upper boundary. Moreover, a bullish H4 candle appeared above the dynamic Kijun Sen, pushing the price trading within a channel.
According to the TFUEL forecast, bears should wait for the channel breakout with an H4 candle below the Kijun Sen and static 0.0454 level before opening the sell button for this pair. On the other hand, a strong recovery with a buying pressure above 0.0454 may extend after a considerable correction.
TFUELUSD Intraday Price Action Analysis
In Theta Fuel price prediction, the visible range trading volume shows how strong traders’ activity appeared from the 0.0607 level from where the latest H4 candle spiked. In that case, the 0.0607 level might work as a key trade changer where any bullish price action above this level would indicate a trend change. On the other hand, the latest intraday trading volume is above the current price, showing sellers' presence in the market.
This technical analysis shows how the turned bullish while the gap between the price and dynamic 20 EMA is extended. Therefore, TFUELUSDT selling pressure may extend in the coming hours due to the mean reversion with the weekly VWAP. However, multiple higher high formations from the 0.0384 level with a strong bullish H4 candle might continue the bullish trend after a correction. In that case, any bullish rejection from the weekly VWAP with an H4 close would be a buying sign in this pair. Conversely, a break below the 0.0454 level with a bearish H4 candle would move the price down towards the 0.0300 area.
Is Theta Fuel (TFUEL) A Buy?
According to the Theta Fuel (TFUEL) Price Prediction, TFUELUSD is trading with a bullish pressure in the intraday price where investors should monitor how the price reacts to the dynamic support. On the other hand, the broader crypto market is still bearish, where a stable price above the 0.0755 level is needed before considering it as a trend change.
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