TFUEL Technical Analysis: Buying Spree Drives TFUEL Above $0.05

The descending trendline breakout triggers a bullish recovery rally propelling the TFUEL prices potentially to the $0.10 mark. Key technical points: The TFUEL prices jumped by 3.51% in the last 24 hours. The double-bottom breakout rally sustains above the 50-day SMA The 24-hour trading volume of Theta Fuel is $153.1 Million, indicating a rise of 449.5%. 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 t...