Theta Fuel Price price towered above the cryptocurrency market horizon on Friday following a mass liquidity transfer from the ecosystem’s old version of the decentralized exchange (DEX) VoltSwap v1 to the new Voltswap ve (3,3).
TFUEL exploded to $0.0584 but stretched the engulfing candle wick to $0.0827. The token has since retraced to $0.0579 at the time of writing, as bulls search for another breakout, this time possibly above $0.1.
Theta Is Moving Liquidity from VoltSwap v1 to the new Voltswap ve (3,3)
The Theta community is being encouraged to remove liquidity from the older version of the decentralized exchange and DeFi platform to the new version, Voltswap ve (3,3), where users will be able to earn TVOLT tokens.
According to a guide published on Medium, the weekly TVOLT emissions started on December 22 after Voltswap ve (3,3) launched on Theta. Investors are required to understand the difference between the two platforms before moving the liquidity.
There are many ways in which Voltswap ve (3,3) differs from VoltSwap v1 but some of the notable ones include being able to choose the pool for their tokens, where the stable pool is dedicated to pegged assets like USDT.eth-BUSD.bsc while the volatile version caters to uncorrelated assets such as TFUEL-TVOLT.
On the new platform, yield farming occurs on the liquidity tab while staking LP tokens in the gauge is equivalent to staking LP tokens in the farm app on V1. For more information on Voltswap ve (3,3), you can follow this link to the Medium article where a step process for moving liquidity has been posted.
(2) ⚡️Meter.io⚡️ on Twitter: “⚡️By adopting the ve (3,3) model, https://t.co/0cKLebXdwJ enables more value to accrue to the $VOLT token and better community engagement! Reminder: #THETA #Voltswap v1 has $449k liquidity not earning $TVOLT. Migrate & maximize rewards: https://t.co/k5SxucjV3Y $MTRG $THETA #DEX https://t.co/4fcpfH5s7L” / Twitter
What’s Next After Theta Fuel Price Explosive Rally
Theta Fuel price is testing resistance at $0.0584 in confluence with the 200-day Exponential Moving Average (EMA) (in purple) and the falling trend channel’s upper boundary. The Moving Average Convergence Divergence (MACD) indicator is supporting the uptick in TFUEL as it lifts above the mean line.
Long positions in Theta Fuel price would remain profitable as long as the MACD line in blue holds above the signal line in red. Meanwhile, a break above resistance at $0.0584 is required to keep the uptrend going.
A confirmed break and hold above this hurdle would call more buyers into TFUEL’s markets and build momentum for the much-awaited rally to $0.0840 and later pave the way for the next upswing above $0.10.
Investors should consider the possibility of a correction to $0.05 support in confluence with the falling trend channel’s lower boundary level. Such a move, although slightly disheartening to the bulls, would give sidelined investors a chance to buy a lower-price TFUEL, thus allowing the token to collect more liquidity before attempting another breakout for highs above $0.10.
Crypto analysts like CryptoGao believe that Theta Fuel price will keep growing as more people embrace the revamped staking. The ecosystem currently has numerous staking and farming pools, which investors can choose from to maximize revenue generation.
(2) CryptoGao on Twitter: “THETA TFUEL is about to have more people locking their money in staking pools to earn dividends. All of this just means bullish upside and more incentives to keep investors not selling. Happy to be a #THETA #TFUEL staker $THETA $TFUEL $TDROP https://t.co/LToba8Bnmf” / Twitter
A spike in staking means few tokens are left in circulation – a catalyst for a rally and possibly a bull run. Theta and Theta Fuel’s staking and yield farming drives are expected to continue in the coming months with users encouraged to move to the new platform to generate more revenue.
Captain Faibik, an analyst with over 45k followers on Twitter, is predicting a 500-600% bullish rally after Theta Fuel breaks out of a falling trend channel, as illustrated in the chart below. The key driver for such a rally would be a massive incoming buying volume as investors take their positions.
(2) Captain Faibik on Twitter: “$TFUEL is heating up for Massive Breakout..!! Forming Descending Channel in Higher TF Chart. Massive Buying Volume is Coming in. Expecting 500-600% Bullish Rally after Breakout. #Crypto #TFUEL #THETA https://t.co/5tLinotX9S” / Twitter
Investors belting up for a massive move in Theta Fuel must consider the possibility of a pullback. One analyst by the name funckyfresh on Twitter suspects TFUEL might give up at least 80% of the gains accrued in January.
(2) funkyfresh on Twitter: “i suspect $tfuel will give away at least 80% of those gains… but nice to see we have the potential! one of these runs it wont pullback… think we hang around the .580 mark but just like everyone else i have absolutely no idea $theta” / Twitter
With that in mind, some investors might prefer locking in their gains if another attempt to break above the 200-day EMA flops. The same investors could buy TFUEL again following a rebound from tentative support at $0.05 and $0.04, respectively.
Should You Buy Theta Fuel Now?
While Theta Fuel shows potential to rally significantly, you may want to pique interest in up-and-coming projects promising a better risk-reward ratio. Some of these tokens have been performing incredibly well in their presales, with their first exchange listings already confirmed.
For instance, Meta Masters Guild (MEMAG) is one of the fastest-growing gaming platforms introduced in the market toward the end of last year. The project stands out for its simple approach to play-and-earn featuring the best mobile web3 gaming guild.
Users earn rewards in an in-game currency called Gems, which can be exchanged for MEMAG, the ecosystem’s native token, or used to buy NFTs. Interested investors can find out more about the Meta Masters Guild presale which has raised $1.51 million in a matter of weeks by following this link.
Similarly, Fight Out (FGHT) is a revolutionary move-to-earn (M2E) crypto project bridging the gap between Web2 users and the Web3 world. The platform flaunts a fitness-tracking app for fitness enthusiasts. Fight Out is the only platform with no barriers to entry as it does not entertain expensive NFT purchases even for its metaverse. Users are also rewarded for the efforts they put into becoming fighting fit. Investors can buy FGHT tokens in an ongoing presale where $3.49 million has been raised, bolstered by a 50% bonus.
C+Charge is another up-and-coming project for investors to consider while diversifying their crypto portfolios. This new ecosystem is the EV drivers’ paradise as it enables them to earn carbon credits and pay for charging in CCHG. Users on C+Charge can check various charging stations’ details from a mobile application like fees, location, and wait times. The token presale has raised $406k, far ahead of its first listing.