- 1 Theta token price is trading above the key moving averages, showing a bullish attitude on the daily chart.
- 2 Theta/USD is showing a V-shaped recovery from lower support levels.
Theta token price action indicates bullish, as THETA cryptocurrency rises above key EMAs and holds on the upper side of the bullish zone, ignoring rejections. Bears are still opening short positions and trying to cause a pullback in the cryptocurrency.
Theta token showed a bullish attitude and kept the price above the lower supports. Buyers are accumulating cryptocurrencies and preparing to move above $1.04 in the coming sessions.
The chart formation shows buyers’ momentum and signals a positive outlook on the charts. THETA cryptocurrency price is aiming to reach a breakout soon and investors are watching it closely.
The price action shows a strong chart structure with a bulls dominance and a long accumulation activity has been noticed in the last few trading sessions. Furthermore, the bears are now turning cautious due to the vertical rally that has trapped them in the past sessions.
Theta Token price traded at $1.04347038 and gained 0.84% of its market capitalization during the day’s trading session. The trading volume was 27.11 million in the last 24 hours. This shows that the bulls are trying to accumulate to move towards the upper price range.
Technical analysis of Theta Token cryptocurrency price on a 1-D time frame
Source: Theta Token.1D.USD by TradingView
Theta Token (USD: THETA) has seen its cryptocurrency price rise steadily over the past three months, gaining 44.37% and 10.19% in the past week. Currently, THETA cryptocurrency is trying to maintain this level after an unexpected price increase.
It is trading above the 50-day and 200-day EMAs (exponential moving averages), which support price momentum. The current value of the RSI is 49.79 points. The 14 SMA is near the midline at 48.73 points, which indicates that Theta Token cryptocurrency is bullish.
The MACD line at -0.02918094 and the signal line at -0.03903208 are above the zero line. A bullish crossover is observed in the MACD indicator, signaling the strength of the price momentum of the THETA cryptocurrency.
Analysis of the weekly time frame
Theta Token cryptocurrency showed the strength of buyers in the weekly charts. Furthermore, the price was trading above the key EMAs, which shows further strength of the cryptocurrency. The RSI curve is close to the overbought region at 56, and a positive outlook has been noted, indicating a bullish attitude in the cryptocurrency. The MACD indicator also continued to create green bars and a bullish crossover was recorded, indicating bullish movements.
Summary
The Theta Token (USD: THETA) technical oscillators strengthen the uptrend. MACD, RSI and EMA are highlighting favorable signals and suggest that the bullish trend may persist in the price of THETA cryptocurrency. The price action suggests that investors and traders are positive on the 1-day time frame. The price action reflects a bullish outlook at the current time. However, investors and traders should maintain the right setup for their next move and avoid FOMO.
Technical levels
Support Levels: $0.85821907.
Resistance Levels: $1.42744520.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment or other advice. The author or persons mentioned in this article are not responsible for any financial losses that you may experience from investing or trading. Please do your research before making any financial decisions
Nancy J. Allen
Nancy J. Allen is a cryptocurrency enthusiast with a major in macroeconomics and a minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks and move away from traditional monetary exchange systems. She is also intrigued by blockchain technology and how it works. You often research and publish content on the best altcoins, their theoretical operating principles and technical price predictions.
