Theta blockchain is a decentralized video-streaming platform that supports smart contracts and Defi applications. TFUEL is one of the two customized tokens of the Theta blockchain network. It is also a gas token. Users can receive TFUEL tokens as rewards for creating as well as watching video content. The TFUEL technical analysis will predict the price trends for the next two days: Past Performance On May 17, 2021, TFUEL started trading at $0.34. On May 23, 2021, TFUEL closed at $0.25. Thus, in the past week, the TFUEL price has declined by approximately 26%. In the last 24 hours, TFUEL has traded between $0.23-$0.26. https://ift.tt/3yBz92E Day-Ahead and Tomorrow Currently, TFUEL is trading at $0.25. The price has decreased slightly from the day’s opening price of $0.251. Thus, the market seems to be bearish. The MACD and signal lines are positive. Moreover, a bullish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bullish. Hence, we can expect the price to start rising. The OBV indicator is upward sloping. This implies that buying volumes are higher than selling volumes. Heavy buying activity will exert upward pressure on the TFUEL price. Currently, the RSI indicator is at 68%. It faced rejection at 70% and fell to the current level. However, buying pressures are still much higher than selling pressures. In short, when we look at all three indicators together, we can say that the overall market momentum is positive and the price is poised to move upwards. TFUEL Techncial Analysis At present, the price is above the Fibonacci pivot point of $0.247. It is soon likely to surpass the first resistance level of $0.258. If the bulls gain full strength, then we can expect the price to break out of the subsequent resistance levels of $0.265 and $0.277 respectively, in some time. The price has tested and broken out of the 61.8% FIB retracement level of $0.248. It may soon break out of the 76.4% FIB retracement level of $0.252 as well. Thus, the price uptrend is becoming stronger and is expected to continue today and tomorrow.
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