Tomochain (TOMO) is following an ascending support line. It has also bounced at the previous all-time high resistance.
Theta Fuel (TFUEL) reached an all-time high in the early hours of March 24 but has decreased considerably since.
Populous (PPT) has broken out from a long-term descending resistance line.
Tomochain (TOMO)
On March 7, TOMO broke out from the previous all-time high resistance at $2.35 and proceeded to reach a then all-time high price of $2.85.
Several days later, TOMO reached the current all-time high price of $3.09.
Currently, TOMO is trading just above the $2.35 area, having validated it as support. This is a bullish development.
Furthermore, TOMO has deviated below this level before reclaiming it, another bullish development.
However, technical indicators are relatively neutral.
The shorter-term six-hour chart shows a breakout from a descending resistance line (dashed).
Furthermore, it shows that TOMO is also following an ascending support line. As long as it does not close below it (and the $2.35 area), the trend is considered bullish.
The two closest resistance levels are found at $3.10, the current all-time high price, and $3.88, the 1.61 external fib retracement.
TOMO is expected to reach at least one of them.
Highlights
- TOMO is trading above support at $2.35.
- It is following an ascending support line.
Theta Fuel (TFUEL)
TFUEL began to decrease on March 12, once it reached a then all-time high price of $0.459.
Due to the overlap, the decrease looked corrective.
Shortly afterward, TFUEL managed to break out from its descending resistance line.
On March 24, it reached an all-time high price of $0.568. The token made the high right at the 1.61 external Fib retracement of the previous drop.
Therefore, TFUEL is expected to decrease towards the $0.44 area, which previously acted as the all-time high.
The daily chart looks more bearish. TFUEL is in the process of creating a shooting star candlestick. When coming after an upward trend, it is considered a bearish reversal sign.
Furthermore, both the MACD & RSI have generated bearish divergence. The Stochastic oscillator has made a bearish cross.
Therefore, while a bounce at the $0.44 area is expected, TFUEL may have reached the top of its upward movement.
