- Theta Network price has been consolidating inside the horizontal range-bound area at lower levels.
- THETA crypto is trading below 20, 50, 100, and 200-days Daily Moving Average.
- The pair of THETA/BTC is at 0.00006016 BTC with an intraday drop of 2.98%.
Theta Network price is trying to surge out of the consolidation phase over the daily price chart. The token must register its breakout by accumulating a significant amount of buyers. However, THETA has lost around 3.30% of its market capitalization in the last 24-hour period. THETA bulls accumulation is required for the token to adapt to the steady uptrend momentum and surge towards the upper trendline of the consolidation phase. On the daily chart, the THETA coin price is trying to develop a strong uptrend. The THETA bulls seem to be particularly focused on making their breach from the consolidation phase. Investors in THETA must hold off until bulls continue to hold their position at the edge of the zone that is range-bound and burst past the barrier.
Theta Network’s price is CMP $1.20 right now, down 3.30 percent in terms of market capitalization from the previous day. The trading volume has increased by more than 12% during the intraday trading session. The THETA currency appears to be recovering as the volume is optimistic. To witness the THETA token breakout, THETA bulls must maintain the current velocity of the rise. The volume to market cap ratio is 0.04788.
The daily chart of the THETA coin price shows a rapid upward movement. The token is aiming to exit the consolidation phase after trading sideways since May 17. Bulls in THETA are striving to create support in order for THETA to properly break out of the pattern. This preventive moment could be observed by looking at the trade volume, which is below average and needs to rise throughout the intraday trading session. THETA must keep the upward momentum going in order for bulls to hold at the higher trendline.
Support on the lower end is at $1.02 and resistance on the higher side is at $1.50.
Bears vs Bulls The Game is on for THETA
The horizontal range-bound region of the daily price chart is being tried to be broken by the THETA coin price. Bulls in THETA keep pushing the coin upward to indicate its breakout. THETA seems prepared to end the current phase of consolidation. Technical indicators suggest the sideways momentum of THETA over the daily chart.
The relative Strength Index showcases the uptrend momentum of THETA towards the upper trendline. RSI is at 45 and THETA investors can expect any directional change upto 50 as soon as it breaks out of neutrality. MACD exhibits the sideways momentum of the THETA coin inside the consolidation phase. The MACD line is overlapping the signal line and is waiting for any type of crossover. THETA investors need to wait for any directional change over the daily chart.
Conclusion
Theta Network price is trying to surge out of the consolidation phase over the daily price chart. The token must register its breakout by accumulating a significant amount of buyers. However, THETA has lost around 3.30% of its market capitalization in the last 24-hour period. THETA bulls accumulation is required for the token to adapt the steady uptrend momentum and surge towards the upper trendline of the consolidation phase. This preventive moment could be observed by looking at the trade volume, which is below average and needs to rise throughout the intraday trading session. THETA must keep the upward momentum going in order for bulls to hold at the higher trendline. Technical indicators suggest the sideways momentum of THETA over the daily chart. The MACD line is overlapping the signal line and is waiting for any type of crossover. THETA investors need to wait for any directional change over the daily chart.
Technical Levels
Support Level: $1.02
Resistance Level: $1.50
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.