Theta Network Price Analysis: THETA Looks Prepared to Escape this Interesting Pattern

• Theta Network Price is trading with armstrong uptrend momentum over the daily chart.  
• The crypto asset has recovered above 20 EMA and is preparing for 50, 100, and 200-days Daily Moving averages. 
• The pair of THETA/BTC is at 0.00004489 BTC with an intraday gain of 1.86%.

Theta Network Price is trading inside a horizontal-range bound area over the daily chart. The token has declined from a head and shoulder pattern stuck into the consolidation phase then after. However, the THETA coin price is trying to gain strong uptrend momentum over the daily chart. THETA bulls look pretty determined to register its breakout from the consolidation phase. THETA investors need to wait until bulls sustain at the verge of the range-bound area and breakout of the barrier. Theta Network price is trying to accumulate buyers and has been trading bullish since yesterday’s trading session. 

Theta Network’s price is presently CMP at $1.35 and has gained 1.13% of its market capitalization in the last 24-hour period. Trading volume has increased significantly by almost 100% in the intraday trading session. The volume is in favor of bulls and signifies the recovery phase of the THETA coin. THETA bulls must maintain the current uptrend momentum to register the THETA token’s breakout. The volume to market cap ratio is 0.1295.

THETA coin price is trading with significant upward momentum over the daily chart. The token is trying to escape the consolidation phase as it has been trading sideways since 17th May. THETA bulls are trying to gather support for THETA to successfully escape the pattern. This preventive moment can be observed by trading volume, whereas volume change can be seen below average and needs to grow in the intraday trading session. THETA must accumulate more buyers in order to continue the uptrend momentum and let bulls sustain at the upper trendline. 

Will THETA remain Caged or Set Free?                  

THETA coin price is trying to escape the horizontal range-bound area over the daily price chart. THETA bulls are constantly pushing the token upwards to register its breakout. THETA looks prepared to break out of the consolidation phase this time. Technical indicators suggest the strong uptrend momentum of THETA. Moreover, THETA price action is trading towards the EMA Ribbon and this signifies the sign of a bullish rally for the token as soon as THETA crosses the EMA Ribbon. 

Relative Strength Index showcases that THETA is trading with strong uptrend momentum. As RSI finally crossed above neutrality and is heading towards the overbought territory. 

MACD also exhibits the bullish momentum of the THETA coin. The MACD line is ahead of the signal line and is heading towards 0 to enter the positive zone.

Conclusion

Theta Network Price is trading inside a horizontal-range bound area over the daily chart. The token has declined from a head and shoulder pattern stuck into the consolidation phase then after. THETA investors need to wait until bulls sustain at the verge of the range-bound area and breakout of the barrier. Technical indicators suggest the strong uptrend momentum of THETA. THETA price action is trading towards the EMA Ribbon and this signifies the sign of a bullish rally for the token as soon as THETA crosses the EMA Ribbon. 

Technical Levels

Support Levels: $1.07

Resistance Levels: $1.45 and $1.85

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 the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.