TFUEL Technical Analysis: Buying Spree Drives TFUEL Above $0.05

Key technical points: 

Past Performance of TFUEL 

TFUEL prices have been trending lower within the influence of a bearish trendline during the downfall from $0.076 to $0.041. However, the recent bull cycle results in a double breakout rally, eventually beating the resistance trendline. The breakout rally shows an increased bullish commitment as the volume indicator spikes sharply over the last 48 hours.

Source- Tradingview

TFUEL Technical Analysis 

The breakout rally accounts for a 44.82% jump in the last week, breaking above the 50-day SMA close to the psychological mark of $0.050. Hence, if the prices sustain above the $0.050 mark with a retest, investors can expect an upside rally to the 100-day SMA. 

The daily-RSI slope enters the overbought territory reflecting an improvement in the underlying sentiments. However, the slope takes a rest at the overbought boundary, creating the threat of a reversal. 

The MACD indicator shows a bull run in fast and slow lines avoiding multiple bearish crossover events over the last couple of months. 

Moreover, the prices display a high possibility of sustaining above the 50-day SMA, teasing a jump to the 100-day SMA. In a nutshell, TFUEL technical analysis showcases the increasing likelihood of a bull run to the $0.10 mark.

Upcoming Trend

The TFUEL price can reach the $0.10 mark if the buying spree exceeds the 100-day SMA at the $0.085 mark. However, the uptrend might find opposition at the $0.075 mark before reaching the SMA. Conversely, a bullish failure to surpass the $0.075 mark, a retracement rally will retest the psychological mark of $0.050.

Resistance Levels: $0.075 and $0.085

Support Levels: $0.050 and $0.041