- The current trading price of THETA is $0.963 and it has declined by 3.58% in the last 24 hours.
- Theta Network operates on the OTHER_BFT consensus mechanism.
THETA has a market cap dominance of 0.066% and is trading with a volume/market cap ratio of 0.0191, with a market cap rank of #56. The long/short ratio of the crypto, as per derivative data, is 0.9227 and the derivative volume has increased by 26.44% in the last 24 hours.
The THETA crypto has a total supply of 1.0 Billion THETA and the current circulating supply of the crypto is also the same. The fully diluted market cap of the cryptocurrency is $968.044 Million.
The market cap of the crypto has declined by -2.92% in the last 24 hours, resulting in $967.791 Million but the volume of the crypto has risen by 2.97% trading flat, which indicates that no new traders are entering the market.
Theta Network Volume Analysis
On the technical charts, the THETA crypto has not witnessed any significant rise in its trading volume for a long time. This is a sign that traders are not gaining an interest in this crypto. This could be due to low potential in the crypto projects and its roadmap.
Theta Network Price Technical Analysis
The THETA crypto price is close to the all-time lows. This behavior of the price denotes that it has totally lost hope. On the weekly charts, the level for a bullish trend reversal is 380% away from the CMP. Thus, if the crypto price breaks above this level, we might witness new highs in the THETA crypto price.
THETA/USD Chart by on TradingView.com
The THETA crypto price has risen above all the crucial EMAs. The 50-day and the 200-day EMAs have formed a fresh golden cross on the charts. If the crypto price sustains above the current swing lows, we might witness an uptrend on the charts.
The MACD on the daily chart of THETA is indicating bullishness as the signal line and the MACD line are trading above the zero line. The MACD line is trading below the signal line which represents the possibility of retracement in the price.
Conclusion
Despite a fully diluted market cap of $968.044 million, the THETA crypto faces challenges. The market cap decline of -2.92% in 24 hours, coupled with stagnant volume, suggests waning interest. The price is near the all-time lows and along with the potential retracement indicated by the MACD signal, these factors point toward a predominant bearish sentiment.
Technical Levels
- Support Level: $0.5580 and $0.85620
- Resistance Level: $1.2989 and $1.710
Disclaimer
The views and opinions stated by the author or any other person named in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.