What’s the Plan of Action as TFUEL Crypto Consolidates at 2021 Lows?


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  • Theta Fuel price has been consolidating inside the horizontal range-bound area at 2021 lows over the daily price chart.
  • TFUEL crypto has fallen below 20, 509, 100 and 200-days Daily Moving Average.
  • The pair of TFUEL/BTC is at 0.000002497 BTC and an intraday drop of 2.45%.

Bears are actively driving down the price of Theta Fuel as the accumulation period draws near. TFUEL investors should keep an eye on the daily price chart for any changing movements. More buyers are needed for the token to survive after the accumulation period. The TFUEL coin still needs to find additional customers and avoid falling into the hands of short sellers if it is to go below the lower range. TFUEL may, however, slip below the consolidation phase considering that it is presently trading with considerable decrease in momentum over the daily chart.

Theta Fuel price is presently CMP at $0.052 and has lost 6.42% of its market capitalization in the last 24-hour period. Trading volume has decreased by 60% in the intraday trading session and that’s way more than threshold. TFUEL needs to attract buyers in order to surge back towards the upper price range of the consolidation phase. Volume to market cap ratio is 0.04451.

Source: TFUEL/USD by TradingView

A zone bounded by a horizontal range has surrounded the price of TFUEL on the daily price chart. TFUEL crypto has been consolidating inside the price range of $0.040 and $0.065. The token must escape the cage and breakfree from the short-sellers clutch to surge over the daily price chart. However, volume change can be seen below average and needs to grow for TFUEL to soar. 

Will TFUEL Breakfree From the Consolidation Phase? 

Source: TFUEL/USD by TradingView

To get beyond the consolidation period, the price of the TFUEL token must draw in more purchasers. To go toward the upper range of the horizontal range-bound area, the token needs to collect support.

Technical indicators suggest the downtrend momentum of TFUEL coin. Relative Strength Index showcases the bearish momentum of TFUEL coin. RSI is at 45 and is trading towards the oversold territory. MACD exhibits the downtrend momentum of TFUEL coin. The MACD line is about to cross the signal line downwards resulting in a negative crossover.

Conclusion   

Bears are actively driving down the price of Theta Fuel as the accumulation period draws near. TFUEL investors should keep an eye on the daily price chart for any changing movements. More buyers are needed for the token to survive after the accumulation period. The TFUEL coin still needs to find additional customers and avoid falling into the hands of short sellers if it is to go below the lower range. TFUEL crypto has been consolidating inside the price range of $0.040 and $0.065. The token must escape the cage and breakfree from the short-sellers clutch to surge over the daily price chart. However, volume change can be seen below average and needs to grow for TFUEL to soar. Technical indicators suggest the downtrend momentum of TFUEL coin. The MACD line is about to cross the signal line downwards resulting in a negative crossover.

Technical Levels

Support Levels: $0.50 and $0.040
Resistance Levels: $0.060 and $0.065

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 financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.      


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