THETA price analysis: The THETA coin price could soon see a dip below the moving average

  • The THETA crypto price is currently seeing a sharp correction and may soon push it to the lower level. It posted a loss of more than 11% in the intraday session.
  • Technical indicators from THETA suggest a strong downward trend in price for the future. In contrast, the THETA / BTC pair has lost more than 6% in the past 24 hours

The THETA coin price is currently watching a bearish momentum that may take it to lower levels on the daily chart. The asset price is currently trading near the $ 6.31 level and is down more than 11%. The downtrend in assets may soon revert to the uptrend in the future.

The THETA price is currently trading above the daily moving average of 50 and 100 but may see a negative crossover in the future. The 50-DMA price is currently close to $ 6,339 and may plummet below soon. A negative rate transition is to be expected in the coming days. One could forecast a strong bull rally that could push the price to new highs. The THETA / BTC pair can continue to see a new uptrend going forward

The dominance of the coin market along with market capitalization is experiencing a downtrend that could push them to lower levels. THETA volume is also experiencing a downward momentum that can push the price to new lows. The ratio of volume to market capitalization of the THETA indicates a downward trend for the future. One could invest in the coin according to their risk appetite.

Technical indicators of the THETA coin suggest a downward dynamic

Source: trade view

The technical weekly chart of the THETA price points to a downward price trend for the future. On the daily chart, the coin price could hit the new high soon. THETA price could see support near USD 5. THETA’s upside momentum could meet hostility near $ 9. When the asset price jumps above $ 10, a strong uptrend can be seen. The THETA / BTC pair can also see a new high in the coming days

diploma

THETA coin price is seeing weak upward momentum and may soon test the lower levels. The THETA / BTC pair may hit a new high in the future as well. An investor should exercise due diligence before investing.

Technical levels

Home Grant: $ 4

Main Resistance: $ 8

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