- THETA coin shows the 50 and 100-day EMA are on the verge of giving a bullish crossover
- The THETA/BTC pair was trading at 0.000166 BTC with a gain of 5.99%
- The 24hr trading volume of the THETA coin is 1.38 Billion
On 6th September, the THETA coin showed a breakout from a crucial resistance level of the $8.5mark supported by strong trading volume. Furthermore, the price is currently in a retest phase trying to obtain proper support from this level. If the price manages to sustain above this level, the THETA traders can grab an excellent opportunity for its trader. The current price of the THETA coin stands at $8.61, with an intraday loss of 6.55%
Concerning the EMAs, THETA is trading above all critical EMAs 20, 50, 100, and 200, indicating a bullish trend. Moreover, the 50 and 100 EMA can soon provide a bullish crossover, attracting even more buyers to the market.
The RSI (BULLISH) value is at 61, indicating the bullish sentiment in the coin market.
The THETA Coin Indicates The Continuation Of Its Bull Rally.
Starting from mid-August, the THETA coin entered a small consolidation phase with its first rejection from $8.5 resistance. This small break was necessary for THETA coin to maintain a healthy bull rally. Thus, with the breakout from the $8.5 mark, the coin price suggests the continuation of its bull rally.
The Moving average convergence divergence (MACD) indicator (BULLISH) shows that the MACD and signal lines are moving higher than the neutral zone, indicating a strong bullish momentum in the coin.
Conclusion: From the technical perspective, the THETA coin shows a great bullish outlook concerning its price action and indicators, providing a great opportunity for trend look for traders in the Crypto market. Thus, if coin price manages to sustain above the $8.5 mark, the THETA traders can expect a nearest target till the $10.5
Support– $8.5
Resistance- $10.5