THETA Price Analysis: The Promising Rise Of THETA Token in recovery mode, EMAs Are Opposing The Growth - Crypto News

THETA Price Analysis: The Promising Rise Of THETA Token in recovery mode, EMAs Are Opposing The Growth

  • THETA Token enters recovery mode with a tremendous growth of more than 60% in the last week.
  • Presently, the coin is trading between two critical EMAs 50 and 200, in the daily timeframe.
  • The THETA/BTC pair trades at 0.0001975 BTC with an intraday gain of +7.43%.

Source- tradingview

THETA token price has been trading under the downtrend ever since the rejection from the $15 level. The coin price recently found demand near the 200 EMA in the daily time frame resulting in the prompt entry of the token into the recovery zone. The crypto asset resonates between the Fibonacci levels of 0.236 and 0.382. However, the coin price is facing opposition from the 50 EMA resulting in the halt of recovery. 

The live THETA price today is $7.42, with a 24-hour trading volume of $760,760,906. THETA is down 0.94% in the last 24 hours. The current ranking of the coin is #20, with a live market cap of $7,422,128,800.

THETA token At Crossroads With Symmetrical Triangle

Source – tradingview

THETA coin has made a symmetrical triangle pattern in the 4-hour timeframe after recovering 60% within a week. The coin price has been resonating in the way for days now. Either side of breakout is a possibility presently and might occur soon as the volumes are on the rise as well. The support levels are at $5.9 and $5.1. On the flip side, resistance levels are at $10.55 and $12.85.

In the 4-hour timeframe, the coin price struggles to find a closing above the 50 EMA(yellow). The 200 EMA patiently resides above the symmetrical triangle. 

The RSI (Slightly Bullish) indicates bullish momentum while trading at 43. RSI line is curved but projects further rise towards the overbought zone.

The ADX indicates a gaining momentum as it is trading at 36 while the spike in ADX increases, implying a positive growth rate. 

Conclusion – THETA coin price resonates inside the symmetrical triangle while facing opposition from critical EMAs. Investors can expect a big breakout move but must wait till confirmation.

Support- $5.9 and $5.1

Resistance- $10.55 and 12.85



Show More

Leave a Reply

Your email address will not be published.