- Theta Network crypto price has outperformed 58% of the top 100 cryptocurrencies in 1 year.
- THETA price has witnessed only 12 green days in the last 30 days.
Theta Network is a blockchain platform for media and entertainment featuring a multi-level BFT consensus mechanism and EVM compatibility. Its Metachain concept aims for unlimited scalability.
A dual token system (THETA and TFUEL) incentivizes participation and provides for governance. The Theta Edge Network enables decentralized video streaming and storage.
Theta Network crypto has a total value of $3.05 Million and a market cap of $2.034 Billion. Also, the stablecoins market cap is $47.5K and has raised $101 Million.
The price of the Theta Network crypto has high volatility, resulting in 11.4%, as per CoinCodex. The market cap dominance of the crypto further is 0.08%, the 50th largest cryptocurrency in the global cryptocurrency market.
The crypto sentiment is bearish, and the fear and greed index shows greed among investors. Theta Network was further released on January 16, 2018.
The crypto market cap has advanced by 1.89% in the last 24 hours, and its price is currently trading at a level of $2.04. The value of the traded volume for the Theta Network has advanced by 41.8%, resulting in a traded value of $50.016M. This further results in a volume/market cap ratio of 2.46%.
At press time, THETA had a circulating supply of 1.0 billion THETA, which is 100% of the total and maximum supply. The fully diluted market cap stood at $2.046 Billion.
Theta Network Crypto Derivatives Data Analysis
The volume of trading for derivatives in crypto has witnessed an enormous surge but has consistently declined over the last few days. Despite this, the volume activity of the previous 24 hours opposes the trend, as the value of the traded volume has advanced by 22.3%.
Moreover, the value of the traded volume for the crypto is $104.89 Million, and the open interest has also advanced by 3.4%. Despite this, the long liquidation time for crypto is higher, resulting in $83.79K. Also, the short liquidation for the crypto is just $11.46K.
Development Activity Vs. Contributors
The development activity of Theta Network crypto has remained the same. Furthermore, there are no development activity contributors for crypto, which shows that crypto’s blockchain needs updates.
THETA Crypto Technical Analysis
The price of the THETA crypto exhibits a bearish behavior as the price of the crypto forms a lower low swing on the chart, followed by lower highs. The price has broken down below a crucial support zone and continues to decline to a lower level.
Following the bearish structure, the candlesticks formed on the chart also represent strong bearishness.
THETA/USD Chart by TradingView.com
The THETA crypto price has declined below the 50-day EMA and is approaching the 200-day EMA. Also, the 20-day and the 50-day EMA have overlapped and might form a bearish crossover.
The MACD and the signal line are trading in a bearish cross and have declined below zero. The histograms formed on the daily chart are also bearish.
The RSI is trading at a level of 39.06 and is consistently sustaining below the same. It has further declined below the 14-day SMA, currently trading at 44.72. The following behavior of the crypto further indicates weakness in the price of the crypto.Â
Summary
The THETA crypto is experiencing a bearish trend with lower lows and declining prices. Despite minor volume increases, technical analysis suggests further downside. Lack of development activity contributes to market pessimism. With crucial support zones breached, indicators like MACD and RSI signal continued weakness, pointing to potential further declines.
Technical Levels:
- Support Levels: $1.34250 and $1.720
- Resistance Levels: $3.2380 and $3.8210
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
