Today THETA / USD is at $ 4.53, down more than 5.5%. It fell 7.17% yesterday to trade at $ 4.96. Does that mean it’s a digital asset poised to bottom out?
THETA / USD
Like most cryptocurrencies, theta has been in decline in the past few weeks. These weeks have been really tough for the industry, but that also means this is a good time to buy. In the case of theta, the decline was steady and not characterized by significant bullish behavior.
The latest trends from theta
The theta chart for the past week and month is very similar, with both showing a steady downward trend. However, this may be good news for investors. If you are an investor looking for a real bargain, now may be the time to buy some theta tokens and then sell them when the market improves.
Theta peaked in the first few months of 2021, starting at $ 1.91 in January and then reaching its all-time high of $ 15.72 on April 16. There have been some notable slumps and rallies since then, but after the first week of May we saw mostly bearish movement in this cryptocurrency.
Theta’s future prospects
Theta ranks 22nd overall among cryptocurrencies. It has a trading volume of 12.44% in the last 24 hours. These kind of numbers indicate a healthy cryptocurrency, although the market doesn’t look very healthy overall.
Because of this, we can say that theta is likely to recover. Whether it will hold on to that rebound and stay bullish for a while is difficult to say and will be determined by factors such as economic growth, the perceived value of theta, and the movement of the cryptocurrency market as a whole.
Market analysts expect theta to have a bull run in the next few months based on the history of this cryptocurrency and the broader market. Some analysts expect the digital asset to hit as much as $ 16 in the next year. Given the growth this year alone, that wouldn’t be entirely unexpected.