Minter
Sui
Pons
NEAR Protocol
Starknet
Quack AI
Chainlink
- Theta Fuel Coin Price respected the red trendline for quite a while, and recently it broke out of it.
- The coin forms an inverted Head and Shoulder pattern in a 4-hour timeframe.
- The pair of TFUEL/BTC is trading at 0.00000508 with an increase of 1% in the market cap of the digital asset over the last 24 hours.
THETA FUEL coin price was facing rejection from the red trendline for the past couple of weeks. Recently, the coin broke out of the red trendline with strong momentum. The coin is currently facing rejection at the horizontal marked short-term supply zone of $0.2391.The coin has given a breakout of the 20 EMA, and retesting it, the coin started moving above and broke out of 50 EMA. Despite the 20 and 50 EMA breakout, the coin is yet to break the 100 EMA, which can act as a supply zone moving forward. The coin is trading at the upper band of the Bollinger band indicator, and if it fails to move above it, the coin can trample down to the short-term demand zone of $0.1600.Volumes have increased during the breakout phase, indicating the presence of bull. If the same continues, the coin can surpass the short-term supply zone of $0.2391 and move upwards.
THETA FUEL Coin is forming an inverted head and shoulder pattern
THETA Fuel coin was consolidating in a lower low and lower high formation on a higher timeframe. As per price action, the coin broke out resistance, which led to a change in structure and an inverted head and shoulder pattern on a 4-hour time frame. At present, the coin has given a breakout of the reversal pattern, and after retest, it has started moving up.
Moving Average Convergence Divergence (Bullish): MACD indicates a bullish trend on the daily time frame as it gave a positive crossover. The buyer’s signal line(blue) crossed the seller’s signal line (orange) on the upside, indicating a possible breakout of the long-term supply zone at $0.25, which can help the coin price move up to $0.28 with strong momentum.
Average Directional Movement Index: ADX showed impulse move during the pattern’s breakout. Currently, it is trading at 34.13 as the coin is resting above the supply zone.ADX curve also fell during the retesting phase, and now it has turned upward, suggesting a continuation of the earlier bullish momentum.
THETA FUEL Coin price is forming Flag and Pole pattern on a weekly time frame
Theta Fuel coin has been in a downtrend for the past trading weeks. This has led to the formation of the bullish flag and pole patterns on a weekly timeframe. The coin bounced back of the lower trendline forming a bullish engulfing candlestick pattern. At present, the coin is approaching the upper trendline and can give breakout as the technical parameters suggest.
Relative Strength Indicator: RSI is trading at 46.49, and recently the RSI Curve has given a positive crossover of 20 SMA. RSI Curve Is nearing the halfway mark of 50. The trend will become super bullish once the RSI curve crosses the 50 halfway mark. This can result in further up to the short-term supply zone at $0.2547.
Conclusion
The Token shows strength on various time frames, and the technical parameters suggest the same. Once the Token breaks out of the upper band of the Bollinger band indicator, it can reach the long-term supply zone of $0.28 very quickly. As per the price action, the coin is forming bullish patterns on4 hour and weekly charts, and thus the THETA FUEL Coin prices can be seen achieving new highs.
SUPPORT: $0.15 and $0.13
RESISTANCE: $ 0.25 and $0.33
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
