THETA Coin is trying to hold above the $ 6.4 mark

  • THETA coin bears have recaptured the 50-day EMA
  • The THETA / BTC pair traded at 0.0001473 BTC with a loss of 20.05%.
  • The 24-hour trading volume of the THETA coin is 1.62 billion

On September 7th, the crypto market experienced intense selling pressure and showed a red fall on almost every coin out there. In any case. The THETA coin was no different, as the coin fell around 25% yesterday and closed under the crucial support of the $ 7.8 mark. For today, the price continues to fall and is on the verge of hitting the next strong support at $ 6.4 and 200 EMA.

To the EMAs. The recent price reversal of the THETA coin has made it difficult to correctly trade signals from the EMAs as they are too close together. Therefore, the THETA traders can limit the EMAs to 50 and 200 EMA to avoid confusion and to identify the main trend within this coin. Hence, under these EMAs, the coin will remain bullish until the price manages to hold above the 200 EMA line.

The RSI is currently 46 (BEARISH) has shown a significant drop in value in relation to the coin’s price movement, suggesting that the bears have now taken the lead.

The THETA Coin Crypto Chart in a 4-hour timeframe

The current price of the THETA coin is $ 6.54, with a 6.95% intraday loss, meaning the price is just above the crucial support for the $ 6.5 mark. If this coin manages to close its candle below this support level, THETA traders can expect a further decline in price.

the Moving average convergence divergence (MACD) indicator (BEARISH) shows strong selling pressure on this coin as the MACD and signal lines are about to break below the neutral zone. In addition, the histogram also shows long rising red bars on its chart that support the bearish momentum.

diploma: From a technical point of view, the THETA coin is in the process of testing the crucial $ 6.5 support from which the coin price got its support yesterday. In any case, this requires a short entry option for the crypto trader, where entry with the division and suitability below the lower support level can be expected.

support– $ 6.5

Resistance- $ 7.6

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