Theta started the day at $ 6.99 (THETA / USD), but it quickly moved above the $ 7 resistance level where it has been hovering all week.
THETA / USD
Theta has steadily climbed the charts, bouncing back from July 20, which moved through the entire cryptocurrency market, and moved way beyond that. On June 19, theta was $ 4.12. The next day it fell to $ 3.58, but then quickly moved back above the $ 4 mark the next day.
Since then, we’ve seen the theta price spike almost every week. It tends to skyrocket around the weekend, with an impressive upward move on Sunday July 25th. The decline over the next two days was significant, so theta made no progress until the next weekend. However, with no serious slumps the following week, theta was able to cross the $ 7 resistance level on Friday, August 6th.
It has since continued on its upward trajectory, falling only briefly next Sunday and Monday, but rebounded well on Tuesday to match today’s impressive gains. There is no reason to believe that theta will stop ascending in the next week or so. It’s a crypto that has proven to be very strong lately and has shown incredible investment potential.
Where can theta go from here?
It is very likely that the bulls will continue to push theta above the $ 8 mark shortly, with the possibility of further upward movement from there. About two weeks ago, analysts were surprised to find that theta, an altcoin, outperformed the major cryptocurrency players. At the time it was up 32%, and a few days ago theta was up 18%. Last week theta was up more than 25% so investors are very confident that they will continue to see great things from this altcoin.
Not the entire cryptocurrency market is running this hot, and some of the big cryptos are even struggling to recover from the July 20th slump. However, a few cryptos like Theta are doing very well and steadily working their way back to the March and April highs before the market crash. Still, theta has a long way to go to reach its all-time high of $ 15.72 earlier this year.