Key takeaways
- The Cloudflare outage highlighted the flexibility of DePIN and boosted the token’s values.
- TFUEL, GRASS and IAG broke resistance levels with significant volume.
- Sustained rises depend on stability in demand after the initial breakout.
When Cloudflare went down, large parts of the Internet went down. It was a stark reminder of how vulnerable central web systems are.
In contrast, Decentralized Physical Infrastructure Network (DePIN) projects, which operate through decentralized nodes, provided greater redundancy, and their uptime remained stable.
This divergence helped fuel a notable rally in three DePIN tokens during the outage.
But with Cloudflare services restored, can these tokens continue to rise?
Theta Fuel (TFUEL)
TFUEL, the native token that powers Theta Fuel’s DePIN ecosystem, was among the cryptocurrencies to surge in the wake of the Cloudflare outage.
During the past 24 hours, The price of TFUEL has jumped By about 20%, pushing the altcoin to a new monthly high.
According to the daily chart, TFUEL reached this milestone shortly after the Moving Average Convergence Divergence (MACD) crossover formed a bullish crossover.
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The timing suggests that Cloudflare’s shutdown amplified bullish sentiment, leading to increased demand for the token.
Close look at the chart It reveals that this flow of momentum enabled TFUEL to break above the upper trend line of its descending channel.
This breakout signals a potential trend reversal and paves the way for further upside.
If this momentum continues, TFUEL may break the current resistance at $0.026. A successful break above this level could open the door to a rise towards $0.031.
However, this bullish outlook depends on continued demand. If selling pressure increases, the breakout may fail.
In this scenario, TFUEL price could decline towards $0.020.
herb
GRASS, the native token of the decentralized network sharing platform, was another asset that contributed to this benefited from Cloudflare outage.
At press time, GRASS is trading at $0.35, recording a 16.60% gain over the past 24 hours.
On the daily chart, GRASS was previously trapped inside a descending triangle.
However, the symbol has now broken through the upper trend line of the triangle, indicating a potential shift in market direction. This breakout is in line with a notable increase in the Money Flow Index (MFI), indicating strengthening buying pressure.
Despite this bullish breakout, the Supertrend indicator remains bearish, with its red line above the current price.
This suggests that GRASS may still face notable resistance before a sustained rally is formed.
If the bulls can overcome this resistance and maintain high volume, Can climb grass About $0.64.
However, if downside momentum returns or the breakout proves unsustainable, GRASS could pull back, likely falling towards $0.18, where the next support area is located.
Aegon (IAG)
The third DePIN token that rose After Cloudflare The interruption is Aegon (IAG).
Since the incident, IAG’s price has risen by 13%, accompanied by a notable increase in trading volume.
Technically, IAG is still trading within a symmetrical triangle. Notably, the altcoin has bounced above the upper trend line of the triangle, indicating that buyers are trying to take control.
In support of the move, the Chaikin Money Flow (CMF) rose to 0.10, indicating improved capital flows.
If CMF remains positive and buying pressure continues to increase, IAG may rise further above the upper border of the triangle.
In such a scenario, the cryptocurrency could rise towards $0.13, with the possibility of an extended push reaching $0.15, in line with previous reaction highs.
However, this bullish outlook hinges on the stability of the triangle breakout. A breakdown below the support line will invalidate the setup. If that happens, IAG could fall to $0.082.
Disclaimer:
The information in this article is for informational purposes only. It is not intended to be, and should not be construed as, financial advice. We make no guarantees about the completeness, reliability or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We advise you to consult a financial advisor before making any investment decisions.
