Theta Network Price Analysis: When Will THETA Break Out Of This Range?

  • Theta Network Price is trading with a strong uptrend on the daily chart.
  • The THETA crypto is trading below the daily moving average of 20, 50, 100 and 200 days.
  • THETA/BTC pair is at 0.00006309 BTC with an intraday gain of 3.93%.

On the daily chart, Theta Network price is trading in a region with a limited horizontal range. The token declined after forming a head and shoulders pattern and getting trapped in the consolidation phase. THETA coin price is however trying to establish a strong upward trend on the daily chart. THETA bulls seem very determined to record their breakthrough from the consolidation phase. Investors in THETA should wait for the bulls to maintain their position at the edge of the range bounded region and break through the barrier. Since yesterday’s trading session, Theta Network price has been trading higher as it attempts to attract more buyers.

Theta Network price is currently $1.19 CMP, up 2.76% from the previous 24 hours in terms of market capitalization. The intraday trading session saw a huge increase in trading volume of over 27%. The volume is bullish and indicates that the THETA currency is in a recovery period. THETA bulls must maintain the current momentum of the rally in order to see the breakout of the THETA token. The market capitalization to volume ratio is 0.04562.

THETA coin price is moving strongly higher on the daily chart. The token, which has been trading sideways since May 17, is trying to break out of the consolidation phase. THETA bulls are attempting to create support for THETA to effectively break out of the pattern. The trading volume, which is below normal and expected to increase during the intraday trading session, could be used to observe this preemptive moment. The bullish momentum needs to be maintained by THETA in order for the bulls to hold onto the upper trendline.

Will THETA sustain this uptrend momentum?

THETA coin price is trying to break out of the horizontal area of ​​the daily price chart. THETA bulls are continuously pushing the token higher to signal its breakout. THETA seems ready to exit the current consolidation phase. Technical indicators testify to the strong bullish momentum of THETA.

THETA is trading with high bullish momentum, according to the Relative Strength Index. Finally rising above neutral, the RSI is now heading towards neutral.

The positive momentum of the THETA coin is also visible in MACD. The MACD line is in front of the signal line and moves in the direction from 0 to.

Conclusion

On the daily chart, Theta Network price is trading in a region with a limited horizontal range. The token declined after forming a head and shoulders pattern and getting trapped in the consolidation phase. THETA coin price is however trying to establish a strong upward trend on the daily chart. The trading volume, which is below normal and expected to increase during the intraday trading session, could be used to observe this preemptive moment. The bullish momentum needs to be maintained by THETA in order for the bulls to hold onto the upper trendline. Technical indicators testify to the strong bullish momentum of THETA.

Technical levels

Support Level: $1.02

Resistance Level: $1.50

Disclaimer

The views and opinions expressed by the author, or anyone named in this article, are for informational purposes only, and they do not constitute financial, investment or other advice. Investing in or trading crypto assets involves the risk of financial loss.