•THETA/USD is currently priced at $1.24 and has increased by 12.53% over the past day
•The trading volumes have increased by 26.72% over the past day
•The technical indicators suggest a positive outlook for the near term
Short Term View: Theta Coin bulls romp to take the lead in a canter
The live Theta Network price today is $1.24 USD with a 24-hour trading volume of $66,195,253 USD. We update our THETA to USD price in real-time. Theta Network is up 12.53% in the last 24 hours. The trading volumes have increased over the past day whereas the Volume to Market Cap Ratio stands at 0.05323 for the altcoin.
Theta Coin received a huge influx of volume in the past weekend that uplifted the price above $1. Currently, the asset is showing strength as it is transacting above the 20,50 SMA on the four hour chart. The altcoin has been successful in its endeavor to shake off the bears. The bulls will be looking to defend the support level placed at $1.10 in order to continue the uptrend. A comeback by the bears could push the Theta Coin price below the psychological threshold of $1 which would be detrimental to the future prospects of the coin. On the flip side, the resistance for the altcoin resides at $1.50 which the bulls will be targeting so as to signal a turnaround.
Long Term View for Theta
The MACD and the RSI indicators for Theta Coin suggest the possibility of an upside breakout of the falling wedge. This is because of the bullish divergence in the RSI and the ongoing upward trend in the MACD and signals lines. The RSI has recovered from the oversold levels and is currently transacting at 37.89, thus giving off a neutral signal. The green histograms are gaining momentum on the daily MACD chart as well as a result of today’s price action. The MACD and signal lines are also moving ahead with renewed vigor which is a major boost for the bulls in the near term.
Conclusion
The technical indicators for Theta suggest that the altcoin has significant room for upside. The positive outlook is supported by the fact that Theta Coin continued to record higher lows and higher highs as seen on the daily chart.
Support: $1.10-$1
Resistance: $1.50-$2
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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