THETA Price Analysis: THETA Crypto Price Might Hit The Support Of $4 Shortly

• THETA crypto price is currently trading in a downtrend and can hit the support of $4 soon. It is currently in a downside parallel channel and can hit the new low.
• THETA coin price technical indicators suggest a downtrend for the future. In contrast, THETA/BTC pair is also observing an uptrend on the daily time frame

THETA crypto price is currently observing a downtrend and is currently trading near the value of $5.1.It has seen a gain of more than 5% in the past 24 hours. The coin has given a return of more than 700% in the past 24 hours. The price is currently below 50 and 100 Daily Moving Average and can have a negative crossover in the upcoming days. The 50 DMA price is currently near the value of $7.44 making it a temporary hostile region for the price. THETA/BTC pair is currently seeing a gain of 4% and can achieve new heights soon. One can position their funds in THETA as per their risk capacity.

THETA coin has a market capitalization of more than $5,023,725,470 and is ranked 21st in the CMC. The token has an ROI of more than 4400% which has always remained a selling point to the investors. The volume to Market capitalization ratio of the THETA is 0.04501, hinting at a downside momentum. One should wait for the price action before buying the coin.

Technical Indicators Suggests A Downtrend In THETA Crypto Price

The weekly technical chart of THETA tells that the Bears are increasing their grasp on the price. On the daily chart, the price of the coin is showing a downside momentum. The resistance zone for THETA coin price while going upwards can be seen near the value of $8. The support in the price can be found near the value of $4. There is a formation of a downward parallel channel on the daily chart of the coin. If the price jumps above the parallel channel then a strong uptrend in price can be seen. THETA/BTC pair is also observing an uptrend and can break the resistance created in the past.

Conclusion

THETA crypto price is currently observing a downtrend and can hit the support of $4 in the future. It has given a huge return to the investors in the past and can do the same in the future . THETA/BTC pair can also see a rise in the upcoming weeks. An Investor should do their due diligence before investing.

Technical Levels

Major Support:$4

Major Resistance:$8

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