-Theta revived nearly 70% the last week
-Price is getting halted at major trend line resistance
-400MA has held prices down for nearly 80 days
Theta Token experienced a massive bull run over the last year as prices rose 1000s of percent. Despite these gains, Theta fell victim of market movements and fell nearly -80% from its ATH of $15.90. As Bitcoin starts its revival off lows, Theta has been attempting to begin a bull trend for the first time in many months.
While looking at the chart, we can see THETA has attempted two breakouts of its multi month channel resistance (green). Price has been respecting this channel for some time as bulls and bears have equally defended it. Along with this trend line lies a major resistance zone from $6.47-$6.85. If bulls succeed in breaking & holding this zone, Theta will be in position for a strong push to the given targets.
Along with these two resistance marks lies the 400MA. This MA has held prices down for nearly 80 days as it has been a strong mark for bears to defend. Breaking above this & holding it will likely allow the push to targets as mentioned above. If the bulls fail to break this mark, THETA will be in for a short term downtrend. Price will find support at $5.25 & $4.40.
While looking at the relative strength index, we can conclude strength just visited the overbought mark and has since been heading down to bearish territory. RSI must hold above the 50 value to save it from a fall to its next supports. The MACD has been consolidating within bullish territory above the 0 value. This is a good sign that buyers have not yet left the market and as soon as the histogram can tick green, THETA will try another push to its targets.
THETA Intraday Analysis
Spot rate: $5.71
Trend: Bullish
Volatility: Medium
Support: $5.25
Resistance: $5.88
-Price is getting halted at major trend line resistance
-400MA has held prices down for nearly 80 days
Theta Token experienced a massive bull run over the last year as prices rose 1000s of percent. Despite these gains, Theta fell victim of market movements and fell nearly -80% from its ATH of $15.90. As Bitcoin starts its revival off lows, Theta has been attempting to begin a bull trend for the first time in many months.
While looking at the chart, we can see THETA has attempted two breakouts of its multi month channel resistance (green). Price has been respecting this channel for some time as bulls and bears have equally defended it. Along with this trend line lies a major resistance zone from $6.47-$6.85. If bulls succeed in breaking & holding this zone, Theta will be in position for a strong push to the given targets.
Along with these two resistance marks lies the 400MA. This MA has held prices down for nearly 80 days as it has been a strong mark for bears to defend. Breaking above this & holding it will likely allow the push to targets as mentioned above. If the bulls fail to break this mark, THETA will be in for a short term downtrend. Price will find support at $5.25 & $4.40.
While looking at the relative strength index, we can conclude strength just visited the overbought mark and has since been heading down to bearish territory. RSI must hold above the 50 value to save it from a fall to its next supports. The MACD has been consolidating within bullish territory above the 0 value. This is a good sign that buyers have not yet left the market and as soon as the histogram can tick green, THETA will try another push to its targets.
THETA Intraday Analysis
Spot rate: $5.71
Trend: Bullish
Volatility: Medium
Support: $5.25
Resistance: $5.88
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.