TFUEL/USDT Tests Critical Support
$TFUEL

TFUEL/USDT is currently trading at $0.05181, down by -0.58% in the last 4-hour session. The price remains below the 200-period moving average (MA) at $0.05662, indicating strong bearish momentum. The VWAP at $0.05267 suggests that the price is trading just below the average value for the session, showing slight weakness.

VWAP: With the price below the VWAP, TFUEL is currently under bearish pressure. Bulls will need to push above this level for any signs of strength.RSI (Relative Strength Index): The RSI is sitting at 37.92, indicating that the asset is nearing oversold territory. A bounce from this zone may be possible, but further weakness could lead to continued selling.MACD (Moving Average Convergence Divergence): The MACD line is slightly below the signal line, with values of -0.00004 for MACD and -0.00083 for the signal line. This indicates that the bearish trend is continuing, and there is no immediate sign of a bullish reversal.

Resistance: The immediate resistance lies at $0.05662, near the 200-MA. A break above this level could signal a potential trend reversal.Support: Key support is located at $0.05000, a psychological round number. A break below this could result in further declines toward $0.045.

The price action shows that TFUEL is in a consistent downtrend, failing to break above key levels. The MACD and RSI both suggest that bears are in control, but with the RSI nearing oversold levels, a small bounce may occur before further downside. The market sentiment remains bearish unless the price manages to close above the VWAP and 200-MA.

Disclaimer:

This analysis is for informational purposes only and does not constitute financial advice. Cryptocurrency trading carries high risks, and you should do your own research before making any decisions.

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