Home
News
- 1 THETA has a total of 330,968 on-chain wallets which is growing every day.
- 2 Technical indicators of favor a consolidated move. THETA saw a drop of 0.99% intraday.
THETA is a decentralized blockchain platform that aims to revolutionize the video streaming industry by improving user engagement and quality of service.THETA token is used to facilitate the transaction inside the platform and reward users or creators. One of the key features of the platform is its peer-to-peer video delivery network, which enables users to share bandwidth and computing resources to improve the delivery. There are also lots of Dapps operating on the THETA network. It also helps content creators to monetize their content.
40,000 transactions for THETA recorded on average in the past 14 days. It has a total of 3151 staked nodes and 8170 elite nodes. ABS- CBN, and theta labs has partnered to enhance SEA media and entertainment with THETA API and collectibles. THETA has an ROI of 599% which has benefitted various investors in the past. THETA price is currently down by more than 93% from its all-time high.
THETA has a market cap of $1.07 billion and is ranked 49th in the crypto-verse. The volume of the asset declined by 29% in the intraday session. The volume-to-market cap ratio of THETA hints towards a consolidated trend in price.
Will THETA See a Bounceback From the 50-day MA?
THETA price has been moving between $0.8 and $1.3 for a long time. It is showing a consolidated downside momentum in the weekly chart. THETA is trading near $1.077 with a small drop in the intraday session. The upside trend of THETA could halt near $1.5. Meanwhile, a bounceback in the downside momentum of the price can be seen near $0.8. The asset price is currently trading above the 50 and 100 Moving Averages. It is taking support near the 50 DMA and may see a downside trend if it crosses below it.
MACD signal suggests a consolidated trend in the price. The bars for THETA suggest a weak bullish trend in the asset price.
Conclusion
THETA is currently seeing a consolidated momentum with a halt near 50-day MA. Analysts are expecting a strong rise in the future.
Technical Levels
Major Support:$0.8
Major Resistance:$1.5
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
