- Theta Network Price is trading with strong uptrend momentum over the daily chart.
- THETA crypto is trading below 20, 50, 100, and 200-day Daily Moving Average.
- The pair of THETA/BTC is at 0.00006309 BTC with an intraday gain of 3.93%.
On the daily chart, Theta Network Price is trading inside a region with a horizontal range bound. The token has decreased after forming a head and shoulders pattern and getting trapped in the consolidation stage. The THETA coin price is attempting to establish a strong uptrend on the daily chart, though. THETA bulls appear to be very committed to recording their breakthrough from the phase of consolidation. Investors in THETA must wait until bulls maintain their position at the edge of the range-bound region and break through the barrier. Since yesterday’s trading session, the Theta Network price has been trading bullish as it tries to attract more buyers.
Theta Network’s price is currently CMP $1.19, up 2.76 percent over the previous 24 hours in terms of market capitalization. The intraday trading session saw a huge increase in the trade volume of over 27%. The volume is bullish and indicates that THETA currency is in a period of recovery. THETA bulls need to keep the current momentum of the upswing going in order to see the THETA token breakout. The market cap to volume ratio is 0.04562.
The THETA coin price is moving sharply upward over the daily chart. The token, which has been trading sideways since May 17, is attempting to break out of the consolidation phase. Bulls in THETA are attempting to build support in order for THETA to effectively break out of the pattern. Trading volume, which is below normal and needs to increase during the intraday trading session, might be used to observe this preventive moment. The upward momentum must be maintained by THETA in order to allow bulls to hold at the upper trendline.
Will THETA maintain this Uptrend momentum?
The THETA coin price is attempting to move out of the daily price chart’s horizontal range-bound region. Bulls in THETA are continuously pushing the token up to signal its breakout. THETA appears ready to exit the current consolidation phase. Technical indicators point to THETA’s strong upward momentum.
THETA is trading with high upward momentum, according to the Relative Strength Index. Finally rising over neutrality, the RSI is now moving toward neutrality.
The positive momentum of the THETA coin is also visible in MACD. The MACD line is in front of the signal line and is moving in the direction of 0 to.
Conclusion
On the daily chart, Theta Network Price is trading inside a region with a horizontal range bound. The token has decreased after forming a head and shoulders pattern and getting trapped in the consolidation stage. The THETA coin price is attempting to establish a strong uptrend on the daily chart, though. Trading volume, which is below normal and needs to increase during the intraday trading session, might be used to observe this preventive moment. The upward momentum must be maintained by THETA in order to allow bulls to hold at the upper trendline. Technical indicators point to THETA’s strong upward momentum.
Technical Levels
Support Level: $1.02
Resistance Level: $1.50
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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