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- THETA/USD is currently priced at $3.93 and has increased by 1.94% over the past day
- The technical indicators suggest a positive outlook for the near term
- The trading volumes have decreased by 12.77% over the past day
Short Term View: Theta Coin staves off the bears
The Theta price today is $3.93 USD with a 24-hour trading volume of $456,234,163 USD. Theta Coin is up 1.94% in the last 24 hours. The trading volumes have decreased slightly over the past day, suggesting profit taking occurring at the current price levels. The Volume to Market Cap Ratio, on the other hand, stands at 0.1161.
The Theta Coin analysis shows that the asset has performed greatly over the past two weeks. The uptrend has seen the prices moving above the 20,50 SMA. Moreover, the short term SMA are trading above the 200 SMA on the four hour chart, which bodes well for the future prospects of the coin. If this uptrend continues, Theta might run along with the bulls, overtaking its $4.75 resistance level and even higher to $5.5. Conversely, if the investors turn against the crypto, the bears might take over and dethrone the altcoin from its uptrend position, taking the altcoin to the depths of the support placed at $2.9.
Long Term View for Theta
The RSI for Theta Coin is currently transacting at 74.87, giving off a bullish signal.The MACD indicator is currently giving out a bullish impulse. The MACD line and signal lines are trading in the positive zone, with the gap between them continually increasing. The histograms are green and are continuing to gain strength, further cementing the bulls’ presence in the market.
Conclusion
Theta Coin price shows an uptrend which has attracted swathes of buyers at the current prices. This may result in the prices increasing further and beyond the resistance levels. Hence, the anticipation of the upcoming trend is increasingly bullish in the near term.
Support: $2.9-$2.2
Resistance: $4.75-$5.5
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
