THETA price analysis: Price rallies above $6.3 after the bulls resume to action

TL;DR Breakdown

  • The price is going high as per THETA price analysis.
  • Recent bullish movement has taken price to $6.36.
  • Support is present at $4.41 for today.

The most recent THETA price analysis is showing signs of bullish activity as the price has increased considerably since the last week. The price has been uplifted to $6.36 as a result of the bullish pressure and is expected to upgrade even more. The past week has been relatively favorable for the bulls as the uptrend remained constant. The price is still following the bullish movement and might as well follow new heights in the coming days.

THETA/USD 1-day price chart: Bulls carry price to $6.36 after countering bearish momentum

The one-day chart for THETA price analysis is displaying promising results, as the price has undergone improvement today as well. The past week proved extremely successful for the bulls as the price increased considerably. Today, the trend has been no different as there has been a rise in price up to the $6.36 level. A crossover between SMA 20 and SMA 50 is expected as well if the bulls retain their leading position.

THETA/USD 1-day price chart. Source: TradingView

The volatility has decreased today which is why the Bollinger bands average has been readjusted to $5.62. The upper value of the Bollinger bands Indicator is now at $6.82 while its lower value is at $4.41. The Relative Strength Index (RSI) has increased up to 56 as well because of the bullish trend.

THETA price analysis: Price glides swiftly towards the next approaching target

The bulls have been ruling the four hours THETA price chart as the price has increased tremendously during the past few hours. The price is currently present at $6.36 position and it is expected that it will soon find a new height. As the bullish momentum has been at its peak, the price has been able to break past the $6.35 resistance as well. Furthermore, the moving average (MA) indicator is showing its value at the $6.08 level.

THETA/USD 4-hours price chart. Source: TradingView

The volatility has been increasing again which is why certain variations in the price movement can be expected. The Bollinger Bands Indicator in the 4-hours price chart is showing the following values; the upper value is $6.34 while the lower value is $5.86. The RSI score is quite near the overbought mark and has currently reached 68.64 position.

THETA/USD technical indicators chart. Source: TradingView

The overall THETA price analysis shows that the price has improved considerably during the past few months. This is why the technical indicators chart is indicating a bullish trend, with 11 indicators on the buying position, nine on the neutral position, and six indicators on the selling position.

The moving averages indicator is showing similar results as the bulls have been controlling the market since the last week. There are nine indicators standing on the buying position, with only five indicators on the selling and one indicator on the neutral positions. The Oscillators are showing a neutral trend, as there are eight oscillators present on the neutral point, with only two on the buying and one oscillator on the selling point.

THETA price analysis conclusion

The one-day and four hours THETA price analysis is showing a substantial rise in price as the bullish momentum has gained stability. The price has rejoined the $6.36 level and is expected to move towards a higher position in the future. The hourly chart is predicting a sufficient improvement in price as well which is a welcoming sign for the buyers, as THETA is expected to remain bullish for the next 24 hours.

Disclaimer. The information provided is not trading advice. holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.