Fuel Network $FUEL Market Overview and Technical Analysis
Fuel Network $FUEL is currently moving in a descending channel on H4 timeframe from some time successful breakout from this channel will lead it towards upwards momentum .
FuelNetwork's $FUEL token is currently trading at $0.04771, representing a 2.34% increase over the past 24 hours. The token's recent price action suggests heightened market interest, with a 24-hour high of $0.05353 and a low of $0.04500.
Technical Indicators
Parabolic SAR : The upper resistance point of $0.05353 indicates slowing upward momentum.
Bollinger Bands : Moderate volatility is suggested, with the upper band at $0.05289 and the lower band at $0.04414, potentially signaling a consolidation phase.
Moving Averages : Steady accumulation is indicated by the 5-period and 10-period moving averages of 11.05M and 8.59M, respectively.
MACD : The values of 0.00091 (DIF) and 0.00092 (DEA) are near convergence, hinting at a potential shift in momentum.
Market Activity
Volume : Robust trading activity is evident, with 146.32M FUEL traded in the last 24 hours.
Turnover : A turnover of $7.16M USDT showcases consistent liquidity.
Support and Resistance : Maintaining the immediate support level of $0.04500 is crucial, while breaking resistance near $0.05350 could spark further bullish sentiment.
Traders are advised to closely monitor key developments, trade volume spikes, and technical indicators to navigate these dynamic market condition .