22.3 C
Ottawa
Wednesday, August 17, 2022
HomeAnalysisTheta Network Price Analysis: When will THETA Escape this Range?

Theta Network Price Analysis: When will THETA Escape this Range?

  • Theta network prices are trading at a strong uptrend momentum on daily charts.
  • THETA cryptos are trading below the daily moving averages of 20, 50, 100, and 200 days.
  • The THETA / BTC pair is 0.00006309 BTC and the daytime gain is 3.93%.

On the daily chart, theta network prices are traded within areas with limited horizontal range. Tokens formed a head and shoulder pattern and diminished after being trapped in the integration phase. However, THETA coin prices are trying to establish a strong uptrend on the daily chart. The THETA bulls seem to be very keen on recording breakthroughs from the integration stage. THETA investors must wait for the bulls to maintain their position at the edge of the range boundary area and break through the barrier. Since yesterday’s trading session, Theta Network prices have been trading bullish as they are trying to attract more buyers.

Theta Network prices are currently at CMP $ 1.19, up 2.76 percent from the last 24 hours in terms of market capitalization. During the daytime trading sessions, we saw a significant increase in trading volume of over 27%. The volume is bullish, indicating that the THETA currency is in recovery. THETA bulls need to maintain their current rising momentum to confirm the breakout of THETA tokens. The ratio of market capitalization to volume is 0.04562.

The price of THETA coins is significantly higher than the daily chart. Tokens that have been trading sideways since May 17 are about to exit the integration phase. THETA’s bulls are trying to build support for THETA to effectively break out of the pattern. Trading volumes that are less than normal and need to increase during the daytime trading session can be used to observe this proactive moment. In order for the bull to maintain the top trend line, THETA must maintain its upward momentum.

Will THETA maintain the momentum of this uptrend?

THETA coin price is about to move from the horizontal range boundary area of ​​the daily chart. THETA’s bulls are continuously pushing up tokens to signal their breakout. THETA seems ready to finish the current integration phase. Technical indicators show the strong upward momentum of THETA.

According to the Relative Strength Index, THETA is trading at a high uptrend. The RSI has finally risen above neutrality and is now moving towards neutrality.

The positive momentum of THETA coins can also be seen in MACD. The MACD line is in front of the signal line and is moving from 0 to.

Conclusion

On the daily chart, theta network prices are traded within areas with limited horizontal range. Tokens formed a head and shoulder pattern and diminished after being trapped in the integration phase. However, THETA coin prices are trying to establish a strong uptrend on the daily chart. Trading volumes that are less than normal and need to increase during the daytime trading session can be used to observe this proactive moment. In order for the bull to maintain the top trend line, THETA must maintain its upward momentum. Technical indicators show the strong upward momentum of THETA.

Technical level

Support level: $ 1.02

Resistance level: $ 1.50

Disclaimer

The views and opinions expressed by the author or the person described in this article are for informational purposes only and do not establish financial, investment, or other advice. Investing or trading crypto assets carries the risk of financial loss.

RELATED ARTICLES

Most Popular