TL; DR breakdown
- Theta price analysis is bullish today.
- Strong resistance is found at $ 7.1.
- Strong support is available at $ 6.5.
Theta price analysis shows bullish momentum. Today is the third day of an uptrend for the token as Theta is one of the exceptional cryptocurrencies that continues the uptrend as most of the market is trading bears today. Theta performed notably as it rose from $ 5.9 to its current price level of $ 6.8 in those three days. The next resistance for theta is at the 7.1 level and, on the contrary, support for theta is at the USD 6.5 level.
THETA / USD 1-day price chart: bulls maintain uptrend
The 24-hour theta price analysis shows the token is trading in the $ 6.5-6.9 range today, while the price is exactly $ 6.8 at the time of writing. Theta gained 5.46 percent in the past 24 hours but has still lost 3.31 percent over the past week as the trend has been declining for the past two weeks. The trading volume has also increased by more than 47 percent, which leads to a market dominance of 0.26 percent and an improvement in market capitalization of 4.7 percent.
THETA / USD 1-day price chart. Source: Tradingview
Volatility for the THETA / USD pair is high, with the upper Bollinger band at the $ 8.2 mark and the lower band at the $ 6 mark. The average of the indicator is $ 7.1, which is resistance for the token. The moving average (MA) trades below the price level at the $ 6.6 mark, complimenting bullish momentum.
The Relative Strength Index (RSI) is on an upward curve in the middle of the neutral zone at index 49. The RSI shows buying activity in the market, but now the curve is losing its steepness, indicating a slowdown in buying activity as well.
THETA price analysis: the latest developments and further technical information
The 4 hour theta price analysis shows that the price breakout was down today, but the bulls quickly took over the price function and raised the price to the current level. Another bearish attack was also seen later during the day, but the bulls managed to retake and are currently topping the charts.
THETA / USD 4-hour price chart. Source: Tradingview
Volatility is increasing on the 4-hour chart as the volatility indicator expands again and the upper bound of the Bollinger Bands has hit the USD 6.9 level, creating resistance for THETA / USD. The average average of the indicator is $ 6.3, which represents the support of the cryptocurrency. The moving average is trading below the price level at the $ 6.6 mark. The RSI has moved near the overbought zone as it trades at index 60, but it shows even more headroom for bullish activity.
THETA price analysis: conclusion
Theta price analysis suggests that the cryptocurrency is bullish today, but as the RSI curve on the daily chart becomes more modest, a slowdown in buying activity is evident that could stop further price improvement in the coming hours, as can be seen price fluctuation is comparatively slow today, but still positive. If bullish momentum continues, theta could face some selling pressure near the $ 7 resistance zone. On the contrary, if there is a reversal, theta could slide back towards the USD 6.3 support level.
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