Theta Network Price Prediction: Upside Potential Expected
According to the Theta Network price prediction, if THETA manages to close above $0.130, it is likely to move to the upside. Currently, THETA is trading at $0.126 with a market cap of $768.7 million. The circulating supply and total supply of THETA are both 1 billion coins. The coin holds the #54 ranking on Coinmarketcap.
THETA/USD Market Analysis
In the THETA/USD market, key resistance levels are identified at $0.90, $0.95, and $1.00, while support levels are at $0.60, $0.55, and $0.50.
During the European session today, THETA/USD reached an intraday high of $0.83 before settling at $0.73. Looking at the daily chart, THETA is showing bullish momentum as it breaks above the upper boundary of its channel.
Theta Network Price Prediction: Upside Potential
The price of Theta Network has been ranging around $0.73 for the past few weeks within its channel. However, there is potential for an upward movement as the price may break above the upper boundary and reach the nearest resistance level at $0.80.
If bullish pressure increases, THETA could potentially reach resistance levels at $0.90, $0.95, and $1.00. On the other hand, if there is a sudden bearish turn, the price may drop towards the lower boundary of the channel and reach support levels at $0.60, $0.55, and $0.50.
THETA/BTC Trades Bullishly
In the THETA/BTC market, the price is currently trading above the 9-day and 21-day moving averages. If it breaks the resistance level at 2400 SAT, further upward movement can be expected. The current trading price is 2165 SAT, with the next key resistance at 2600 SAT and above.
If the price falls below the 9-day and 21-day moving averages, a bearish movement may occur, with the support level at 1700 SAT and below being tested. A bullish trend confirmation would happen if the 9-day MA crosses above the 21-day MA.
Theta Alternatives
Theta Network has seen a significant price increase from $0.72 to above the $0.82 resistance level within a few hours, reaching an intraday high of $0.83. However, the coin is currently experiencing a slight retreat and maintaining a bearish momentum. It is currently trading at $0.73, forming a potential bear flag in the long term.
Despite this, Theta Network is well-positioned to benefit from overall market trends and Bitcoin protocol fundamentals, including mining. Additionally, it has achieved over $3.0 million in its ongoing presale.
Hot Take: Theta Network Primed for Upside Movement
The Theta Network price prediction indicates that there is potential for THETA to move to the upside if it closes above $0.130. With bullish momentum in both THETA/USD and THETA/BTC markets, there are opportunities for price increases in both pairs. However, caution should be exercised as there is also a possibility of bearish movements if key support levels are breached.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies.Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.
