Price is in a downtrend, trading below 200-day moving average (~$1.87). However, it’s trading in a Falling Wedge pattern, which typically resolves in a bullish breakout and a trend reversal.
We wait for a breakout, above $1.80 level and 200-day MA to resume an Uptrend, with +40% upside potential to $2.50
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Theta Crypto Price Analysis
- Price: $1.37
- 24-Hour Range: $1.36 – $1.38
- 7-Day Range: $1.15 – $1.45
- Market Cap: $1.37 billion
- 24-Hour Volume: $20.84 million
- Circulating Supply: 1.00 billion
- Total Supply: 1.00 billion
Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher.
Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order.
Weekly Price Analysis
Over the past week, Theta’s price ranged from $1.15 to $1.45. This fluctuation indicates some volatility, but overall, Theta has shown resilience, maintaining a price above $1.30 for most of the week. The trading volume has been robust, with significant activity noted during the price dips and peaks.
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Trend: Short-term trend is Strong Down, Medium-term trend is Strong Down and Long-term trend is Strong Down.
Momentum: Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).
Support and Resistance: Nearest Support Zone is $0.95. Nearest Resistance Zone is $1.90, then $2.50.
News Roundup
- Partnerships and Developments: Theta Network continues to expand its infrastructure and partnerships, which is expected to drive long-term value.
- Regulatory News: There have been no significant regulatory impacts reported recently. However, the broader regulatory environment for cryptocurrencies remains an area of concern for investors.
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