Theta Network (THETA) broke and closed above the downtrend line on Feb.10, indicating that the downtrend could be coming to an end. Generally, a rally above a stiff resistance tends to turn back and retest the breakout level. If bulls succeed in flipping the breakout level into support, it suggests a change in sentiment from sell on rallies to buy on dips. The 20-day EMA ($3.49) has started to turn up and the RSI is in the positive territory, suggesting advantage to buyers. If the price rebounds off the downtrend line, the bulls will attempt to start a new uptrend. A break and close above $4.39 could attract further buying and the THETA/USDT pair could rise toward $6. This bullish view will invalidate if the price turns down from the current level and plummets below the downtrend line. Such a move will suggest that the break above the downtrend line could have been a bull trap. The pair has been rising inside an ascending channel pattern. The bulls tried to push the price above the resistance line of the channel but the bears did not relent. This may have led to profit-booking by the short-term bears, pulling the price toward the support line. The price has bounced off the support line on three previous occasions hence, the bulls will again try to defend it. If the price rebounds off the level and rises above the downtrend line, it will signal the resumption of the uptrend. Alternatively, a break and close below the support line of the channel could signal a deeper correction to $3.20.
August 8, 2021
THETA broke above the downtrend line on Aug. 4, suggesting that the selling pressure may be reducing. The price reached the 200-day SMA ($7.24) on Aug. 5 where the bears are offering stiff resistance. The THETA/USDT pair formed a Doji candlestick pattern on Aug. 7, indicating indecision among the bulls and the bears. This uncertainty resolved to the downside today. The pair could now drop to the 20-day EMA ($6.07). If the price rebounds off the 20-day EMA, the bulls will make one more attempt to clear the overhead hurdle at the 200-day SMA. If they succeed, the pair could start its journey toward the next target objective at $10. On the contrary, if bears pull the price below the 20-day EMA, the pair could slide to $5.28. A break below this support will suggest that the current rally was a dead cat bounce. The bears are attempting to stall the relief rally near the overhead resistance at $7.50. They have pulled the price below the 20-EMA and will now try to break the support at $6.30. If they manage to do that, the pair could drop to the 200-SMA. Conversely, if the price rebounds off $6.30, it will suggest that bulls continue to buy on dips. The buyers will then try to push and sustain the price above $7.50. If they succeed, the pair could start its journey toward $9.
July 19, 2021
THETA has been in a downtrend since topping out at $15.88 on April 16. The down move has reached the strong support zone at $4.57 to $3.85, which could attract buying. The down sloping moving averages suggest that bears are in command but the oversold levels on the RSI indicate the possibility of a countertrend rally. The first resistance on the upside is the 20-day EMA ($5.68). If the price turns down from this resistance, the bears will make one more attempt to sink the THETA/USDT pair below the support zone. A break below $3.85 will signal the start of the next leg of the downtrend that could reach $2.60. On the contrary, if bulls thrust the price above the 20-day EMA, the pair could rise to the downtrend line. A breakout of this resistance will suggest a possible trend change. The pair has been consolidating in a tight range between $4.33 to $4.62. The RSI has formed a positive divergence on the 4-hour chart, indicating that the bearish momentum may be weakening. If bulls push and sustain the price above the 20-EMA, the pair could rise to the 50-SMA. This level may act as a resistance but if buyers can overcome this hurdle, the pair could rise to the next overhead resistance at $6. Conversely, if bears sink and sustain the price below $4.33, the selling could intensify and the pair may drop to the psychological support at $4.
November 11, 2019
In spite of having such immensely powerful competitors in the face of Twitch and YouTube, THETA is doing quite well, proven by its 69th position on Coinmarketcap. Although it was designed to heed the needs of gamers and streamers, the coin displays a satisfactory price action on Binance, the cryptocurrency exchange where I do my trading. Right now, it is moving below the resistance of $0,1 but I am sure that THETA will hit $0,12 by Christmas.
April 1, 2019
THETA is still the shining coin. It's such a unique project that sheds light on the amazing use case in blockchain and cryptocurrencies. It's now more than ever that we need legitimate projects, and not scams that we see on a daily basis turning the market into a joke. Pay attention to good coins and don't give the time of day to all this scam projects. THETA is truly revolutionary, and it's poised to make a lot of investors very happy in the near future.
March 14, 2019
THETA is going to do big things soon. They're the only end-to-end streaming blockchain product and this means that it's only a matter of time until we see a Netflix or Amazon partnership. We already know that Netflix has been looking into blockchain make their platform even better. The moment news like this comes down the pipe THETA will become a top 20 coin atleast.
February 27, 2019
THETA is rocketing!! + 50 % in the last week. This project is a real winner. According to TA it was ready for a big leg up but I didn't expect such huge gains
January 19, 2019
the token seems to be promising one. let's wait and see what comes out of it...
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