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Technical Analysis – TFUEL: Play of the Week

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$TFUEL has recently been launched on Binance.

Also known as $THETA FUEL — During the same duration — we have seen Theta up 20% on the week and $TFUEL 2X.

If you check the stats on CoinMarketCap — the past 24 Hours — TFUEL has traded almost $397,067,812 USD whilst its MarketCap is currently at $80,768,830 USD — this represents a 4X of traders to overall long-term investors.

LONG STORY SHORT — DON’T BE STUPID AND HODL THIS COIN — IT IS MEANT TO BE TRADED AND CUT — NOT FOR CURRENT LONG-TERM INVESTING.

$TFuel

$TFUEL Binance Chart

A double bottom has been found on the lower trendline at 254 Sats.

The trendline has been existence since it first started trading almost 24 Hours ago.

There is a large volume gap at 240 Sats that needs to be watched for in the event of $BTC potentially breaking $8400 — this is unlikely to occur until Tuesday.

Current support is at 245 Sats with it bouncing off the trendline at 254 illustrating strong momentum currently at play.

Following the bounce at the trendline — we have noticed share bullish momentum and increase of accumulation.

Currently testing the 15MA it is more than likely following strong Asian Trading on the 26th May night that we see it break past it during the 26th Day — Sunday before it seeks to break the current resistance and upper trendline of the Bull Flag at 285 Sats

COMPARISON TO $THETA — Positively correlated to it

$THETA Binance Chart

$THETA during the same period as the release of $TFUEL has had a sharp increase and mirrors the exact payment — hence it being positively correlated to eachother.

An expectation to see a possible pullback on $THETA to 1620–1600 Sats before moving higher. If $THETA drops below it — watch $TFUEL for potential pullbacks to the 240 Sat area.

Dollar cost Average between 254–240 Sats —

Cut at 238 Sats

Look for a break of 285 Sats with dollar cost average as it seeks to edge higher to the all time high of 346 Sats

Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. BitObsession/FintechDaddy/Chartground will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.

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Fintech Daddy
FintechDaddy is relentlessly passionate in his technical Analysis for both CryptoAssets & Forex. Join his Charting Playground available exclusively on Telegram. There you are either a teacher or a learner. http://t.me/Chartground Stalk him on Twitter:

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