THETA Price Analysis: THETA Price Forecast A Uptrend For The Future

THETA bulls are gearing up for the new high
  • THETA price is currently in an accumulation zone with a downtrend sign. In contrast, THETA/BTC pair has also seen a gain of 14.19%
  • THETA price has seen a gain of more than 100% from the start of the year.Mean while the technical indicators suggest an uptrend.

THETA is currently ranked 11th with a market capitalization of $13,156,547,701. The market capitalization to volume ratio for the coin is 0.064. If it crosses more than 0.7, then a buying rush can be seen. THETA Price forecasts a great gain for the future.

Why To Invest In THETA Coin?

THETA is a blockchain-powered network built for video streaming. THETA was launched in March 2019 and operated as a decentralized network in which users share bandwidth and computing resources on a peer-to-peer basis. It is headed by Steve Chen, co-founder of YouTube and Justin Kan, co-founder of Twitch. 

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THETA is going to launch mainnet on Jun 2021 which might affect positively the price.It has also partnered with google for reinvention of video and data streaming which may push the price further beyond the moon.

Technical Indicator Suggest A Bullish Move For THETA Price 

Source:Trading view

The weekly technical chart of THETA showcases a consolidated momentum. On coming to the daily chart’s shorter time frame, THETA price is above 100 and 50 Moving average. The 50 MA(Red) line is at $7.2, making it temporary support for the coin. Resistance for the coin on going upside is at $15. While on the downside, the coin can see a bounceback from $11.There is a formation of the accumulation zone on the daily chart. If the price goes above the zone, then a new high can be formed.THETA/BTC pair is currently performing positively and can break the resistance created in the past.

RSI(Bullish): It is trailing at 70.33 while showcasing its presence in the overbought zone. There is positive slope formation, highlighting that price can see a uptrend in the upcoming days. The overall sentiment of the RSI is bullish .

Conclusion

THETA price forecast an excellent return for the future.THETA has a great team behind it and has seen a great return in the past.THETA/BTC pair can also break past its previous barrier. An investor should do their due diligence before investing.

Technical Levels

Major Support:$11

Major Resistance:$15

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Adarsh Singhhttp://www.thecoinrepublic.com
Adarsh singh is an Stock market and financial market advisor trader with background in Engineering. He specialises in Technical Analysis while possessing strong computational skills.

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