THETA price analysis: THETA coin price ready to cross resistance region

  • The THETA coin price is currently recovering from the downward trend. It may see a negative moving average crossover in the coming days
  • Technical indicators point to a strong bullish recovery in the THETA price. In contrast, the THET / BTC pair can see a breakout from the previous resistance.

The THETA coin price is currently trading near $ 7, with a loss of 3.28% in the last 24 hours. It has given its investors a return of more than 700% over the past four months. The 50 and 100 Daily Moving Average are above the current price and may show a negative crossover in the future. The 100 DMA price is currently near the $ 8.33 value, making it a temporary region of resistance for the price. The THETA / BTC pair is currently experiencing consolidated momentum and may soon see a major breakout.

THETA Coin has a market cap of $ 7,023,725,470 and a market dominance of 0.52%. The asset has a ROI greater than 4400% which was an attractive feature for the token. The coin’s volume to market cap ratio is 0.099, which suggests some consolidated momentum. You should wait for the price movement before diving into the token.

Bulls are in favor of the THETA coin price

Source: trade view

The technical weekly chart of the THETA token price shows a strong bearish momentum for the coming weeks. On the daily chart, the price has started to recover from the fall. The hostile region for the THETA coin price during the uptrend can be seen near the USD 12.5 level. The bounceback region in the price can be speculated close to $ 5. The price has collapsed below the accumulation zone and is starting to recover. If the price bounces above the USD 12.5 resistance, strong bullish momentum can be seen. The THETA / BTC pair is also experiencing weak bearish momentum but may soon break past resistance created. One should wait for the price to make a significant move before entering.

Conclusion

The THETA coin price is recovering after falling to the value of USD 5. It has brought tremendous returns to investors in the past and may continue to do so in the future. The THETA / BTC pair can also see an upward momentum in the coming days. An investor should exercise due diligence before investing.

Technical levels

Home Grant: $ 5

Main Resistance: $ 12

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