TFUEL Technical Analysis – September 2021
In the last 7 days, TFUEL increased by 21%. Nonetheless, the price started declining again, and it has dropped by around 9% so far. The price might continue to decline in the coming days, other things equal.
In the last few hours, TFUEL has declined by 5%. This decrease suggests that the short-term trend is bearish and that the price might continue to decline in the coming hours.
The 20-day moving average is above the price, and it suggests that the trend is downward, meaning that the price might decrease in the coming days. The MA line can act as resistance.
The 9-day EMA is also above the price. It can act as resistance and indicate that the price can go further down.
Relative Strength Index
The RSI of a daily chart is below 50 at around 40. This suggests that the momentum is bearish, but it also means that the price has room for both growth and fall. Similar can be said about a 4-hour chart.
The MACD line is slightly below the signal line and well below the baseline. This indicates that the momentum is bearish and that the price might keep decreasing. As for the 4-hour chart, the MACD line has climbed above the signal line and above the baseline, indicating that the price might increase in the shorter run. The lines are converging, however.
Fear & Greed
Fear and greed indicator suggests that the current daily emotion for TFUEL traders is more fear than greed. This could mean a continuation of the bearish run.
The Fibonacci retracement levels in a 1-hour chart indicate that the price has retraced to the 78.6% level. This meant that the price could have increased in the coming hours, and it did.
Price Prediction TFUEL – September 2021
Based on this technical analysis, TFUEL could decrease in the coming days. We could see the price drop to $0.25 and test support in the coming days. Eventually, the price might as well retrace to $0.27.
Latest News for TFUEL – Affecting Price
There has not been any major news for Theta Fuel, but its price is heavily affected by other major cryptocurrencies such as Bitcoin (BTC). If the latter increases in the coming days, we could expect the same for TFUEL.