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Theta price analysis: Bulls remain incapable of surpassing the $3.78 hurdle

Theta price analysis Bulls remain incapable of surpassing the hurdle

TL;DR Breakdown

  • Price dropped down to $3.347.
  • Theta price analysis shows downtrend.
  • Support stands at $2.312 extreme.

The most recent Theta price analysis indicates a decreasing trend for the 24-hour period as the price plummeted over throughout the day. Red candlesticks indicate a sharp decline in coin value due to the bearish turnover. Although the prices followed the market’s bullish weekly sentiment, today’s trend has been disappointing for buyers. THETA/USD now stands at a low of $3.347, following the latest downward trend.

THETA/USD 1-day price chart: Bearish resistance causes loss up to $3.347

The one-day Theta price analysis gives a bearish indication regarding today’s price movements. The price showed a downward inclination during the past 24-hours because of the sudden bearish return. The red candlestick on the one-day price chart hints at a major loss for the cryptocurrency. Although the bulls were winning successively in the previous week, today, the price declined up to $3.347. Still, the current price stands higher than its moving average (MA) value of $3.133.

Theta price analysis: Bulls remain incapable of surpassing the $3.78 hurdle 1
THETA/USD 1-day price chart. Source: TradingView

The volatility is decreasing, which is a positive signal regarding future market trends, and the price might receive a bullish boost. Discussing the upper and lower values of the Bollinger bands indicator, the upper band shows a $3.786 value, whereas the lower band displays a $2.312 value. The Relative Strength Index (RSI) graph presents a descending curve, and the score has reduced to 49.12.

Theta price analysis: Downswing follows as bears push price down to $3.347

The 4-hour Theta price analysis predicts a strong bearish trend for the market as the sellers have controlled the price flow for the past few hours. A series of red candlesticks marks the 4-hour price chart, thus confirming a downtrend. The short-term trending line now confirms the downward trend in the hourly price chart. The bearish wave has reduced the coin’s value to $3.347. Because of the previous uptrend, the moving average value sits quite high, i.e., at $3.523.

Theta price analysis: Bulls remain incapable of surpassing the $3.78 hurdle 2
THETA/USD 4-hour price chart. Source: TradingView

The Bollinger bands are now making an average of $3.450. At the same time, their upper edge is present at $3.67 high while their lower edge touches $3.221. Meanwhile, the RSI score experienced a drastic decline to 49.97 because of the unexpected bearish pressure. A further decrease in THETA/USD value is expected in the next few hours.

Theta price analysis: Bulls remain incapable of surpassing the $3.78 hurdle 3
THETA/USD technical indicators chart. Source: TradingView

The past few weeks have been good to the bears as prices endured negative growth. The general analysis leads the cryptocurrency sellers, which is further confirmed by the technical indicators chart. There is a selling hint with 12 selling points, eight on the neutral, and six on the buying point.

Furthermore, the moving averages indicator shows a downtrend because of the price decrease. We can see that nine indicators are on the selling edge, five on the buying, while only one indicator is on the neutral edge. The Oscillators indicate a bearish trend as well. There are seven oscillators on the neutral spot, three on the selling spot, and one oscillator present on the buying spot.

Theta price analysis conclusion

The 1-day and 4-hour Theta price analysis support the bears, as the price underwent a considerable decline. The bearish momentum is intensifying, which is why the coin’s value now rests at a $3.347 low. A further drop in the market value of THETA/USD is expected in the next few hours.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com 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

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.

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