THETA Price Analysis: The THETA Coin Price is poised to break above the 50 and 100 DMA for a new high

  • THETA crypto price is returning to the downtrend after breaking the $ 8 barrier.
  • The technical indicators of the THETA price point to a strong dynamic. In contrast, the THETA / BTC pair is up more than 14%

The THETA coin price is currently seeing strong upward momentum that may propel it past $ 8. The coin price has risen more than 13% in the past 24 hours and is trading near the $ 6.5 level. It is experiencing strong upside momentum and may break out to a new high soon.

THETA price is currently trading below the 50 and 100 daily moving averages but may exceed it soon. The 50 DMA price is currently near the $ 6.5 value, making it a zone of resistance for the price. One could forecast a sharp rise in THETA for a new high in the future. The THETA / BTC pair can see a strong uptrend in the future as well

The dominance of the coin market along with the market capitalization is experiencing a strong recovery and may soon reach the previous levels. THETA volume is also experiencing a sharp spike which can act as a powerful catalyst for price. The volume-to-market capitalization ratio of the THETA suggests strong upside momentum. You could invest in the coin depending on your needs and risk tolerance.

Bulls of THETA Coin are ready to push them to a new high

Source: trade view

The technical weekly chart of the THETA price points to a strong upward momentum for the coming weeks. On the daily chart, the coin price has formed a strong bullish engulfing pattern. THETA’s upside momentum could meet hostility near the $ 8 level. When the asset price jumps above the $ 10 mark, there is a strong upward trend. The THETA / BTC pair can continue to see a strong uptrend going forward

diploma

The THETA coin price is currently experiencing a strong upward trend that may lead it to a new high. The THETA / BTC pair can also see the same dynamic in the coming days. An investor should exercise due diligence before investing.

Technical levels

Essential support: $ 5

Main Resistance: $ 12

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