- THETA crypto price returns to the downtrend after failing to brea above the barrier of $8 It has seen a gain of 0.8% in the intraday session.
- THETA price technical indicators suggests a strong momentum. In contrast, THETA/BTC pair is up by more than 14%
THETA coin price is currently observing a strong upside momentum which can push it beyond $8 . The coin price has seen a gain of more than 13% in the past 24 hours and is trading near the value of $6.5. It is seeing a strong upside momentum and can soon breakout for a new high.
THETA price is currently trading below the 50 and 100 Daily Moving Average but can soon cross above it . The 50 DMA price is currently near the value of $6.5 making it a resistance zone for the price.. One might forecast a strong gain in THETA in the future for a new high. THETA/BTC pair can also see a strong bullish trend in the future
The coin market dominance along with the market cap is seeing a strong recovery and can soon see the previous levels. THETA volume is also seeing a strong surge which can act as a strong catalyst for the price. The volume to Market capitalization ratio of the THETA hints towards a strong upside momentum. One might invest in the coin as per their needs and risk capacity.
Bulls Of THETA Coin Are Ready To Push It For A New High
The weekly technical chart of the THETA price hints towards a strong upside momentum for upcoming weeks.On the daily chart, the coin price has formed a strong bullish engulfing pattern.. THETA price might see a bounceback near $5 while going down. The upside momentum of THETA may face hostility near the value of $8. If the asset price jumps above the $10 mark then a strong uptrend can be seen. THETA/BTC pair can also observe a strong uptrend in future
Conclusion
THETA coin price is currently seeing a strong bull trend which can lead it to a new high. THETA/BTC pair can also see the same momentum in upcoming days. An Investor should do their due diligence before investing.
Technical Levels
Major Support:$5
Major Resistance:$12
Rajat is an MBA graduate specialized in finance who is a motivated self-starter, highly organized, and holds a good flair for understanding financial markets. His interest in economics and finance draws his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. His primary focus is on cryptocurrency price analysis and industry news coverage.