In the past few hours, the Theta Network price prediction shows THETA rising by 10.07%, and the next resistance level may be at $2.50. Theta Network sends a bullish signal: Will THETA rise by 20%?
The cryptocurrency market is experiencing significant price volatility, with top tokens increasing the value of their portfolios. Investors’ attention has shifted to the DeFi space, which means these tokens could see price volatility. Notably, Theta Network has surged by 13.52% in the past 24 hours, making it one of the top gainers in the industry. Additionally, its month-to-month growth of 51.84% highlights the positive fundamentals driving the token’s growth.
Theta Network Forecast Statistics:
Theta Network Current Price- $1.99
Theta Network Market Cap- $2 billion
Theta Network Circulating Supply - 1 billion
Theta Network Total Supply - 1 billion
Theta Network Coinmarketcap Ranking- #49
THETA/USD Markets
Key Levels:
Resistance: $2.60, $2.70, $2.80
Support levels: $1.50, $1.40, $1.50
THETAUSD - Daily Chart
THETA/USD rose from $1.81 to break the $2.00 resistance level and hit a high of $2.31 within a few hours. Although the coin slightly retreated below this level, the currency maintained its bullish momentum. Moreover, the Theta Network price is currently trading at $1.99 and is in an uptrend on the daily chart, which could form a bearish flag in the long term. In the short term, THETA/USD has risen by more than 10% in the past 24 hours.
Theta Price Prediction: What is the next direction for THETA?
According to the daily chart, the Theta Network price is facing an uptrend as it is ready to trade above the upper boundary of the channel. However, if today’s low of $1.76 is breached, this could act as a strong support level for the coin and if broken, the sell-off could extend to $1.65.
Currently, the bulls plan to keep the market going by keeping the Theta Network price above the 9-day and 21-day moving averages. However, if the price breaks below this resistance, it could hit the $1.50, $1.40, and $1.50 support levels. As the daily chart shows, the 9-day moving average remains above the 21-day moving average, which suggests that the bullish trend is likely to continue to develop. However, if the bulls increase the buying pressure and push the Theta Network price higher, further resistance levels may be found at $2.60, $2.70, and $2.80.
THETA/BTC moving upwards
Compared to Bitcoin, Theta (THETA) is showing positive signs above the 9-day and 21-day moving averages. However, the trend is bullish within the channel and is currently trading at 3521 SAT, very close to the upper boundary of the channel.
THETABTC - Daily Chart
Furthermore, if the coin breaks out and remains above the channel, the possible resistance could be above 4500 SAT, but a slide down to the lower boundary of the channel could find the closest support below 2700 SAT. Therefore, the 9-day moving average has been hovering above the 21-day moving average, indicating more bullish signals.
Sheldon_Sniper (former Twitter account) with 465k followers highlighted that THETA is approaching an important weekly resistance level and a breakout above $1.7 could signal a return to the $3-$4 region, showing an extremely bullish outlook. Who can grab this promising trade early?
THETA is approaching an important weekly resistance level, a break above $1.7 will open the door for a return to the $3-$4 area, which is looking very bullish at the moment
Who grabbed this promising deal early on in this show?
pic.twitter.com/Njw7QT5mLu
– Sheldon The Sniper (@Sheldon_Sniper)
February 26, 2024
Theta Network price remains above key moving averages, suggesting potential bullish momentum if it breaks above the upper boundary of the channel at around $1.50. While Theta Network (THETA) has an eye-catching $2 billion market cap, Bitcoin Minetrix (BTCMTX) is gaining momentum, having raised over $11.4 million in its presale. While established tokens like THETA may have limited growth due to market cap constraints, BTCMTX offers investors a promising opportunity for diversification and potential returns.
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