Theta token price analysis: THETA/USD drops to $7.9

Theta token price analysis

TL; DR Breakdown

  • On the five-day Theta token price analysis chart, the coin traded in a range of between $6.8-$8.6.
  •  Most of the digital currencies have recorded massive price deviations.
  • THETA/USD started off the daily price analysis with the sellers controlling the market. 

Theta token price analysis: General price overview

In the past week, Theta token has seen a favorable market with buyers as the drivers of the coin, making the price trade in a rising momentum. Despite the coin rising in upward momentum, the coin has been trading in a tight range throughout the week, signaling a mild volatile market.

On the five-day Theta token price analysis chart, the coin traded in a range of between $6.8-$8.6. Suggesting moderate activities have been taking place during the five-day chart.

In addition, the 20-day Moving Averange crossed over the 50-day Moving Average, implying that the coin is bullish at the time. However, the long-term MA did not cross over the short-term Moving Average, meaning that the buyers took control of the market in most trading sessions. 

The cryptocurrency heat map is bleeding. Most of the digital coins have recorded massive price deviations. The rough decline saw its way towards the closure of yesterday’s price analysis chart.

Theta token price analysis
Source: Coin360

Bitcoin is trading at $47.1K a -10 percent deviation. ETH is trading at $3.5K a deviation of more than ten. Cardano is also trading in the same dangerous trend. Buyers seem to have shifted to Solana, causing its price to surge, recording the highest gain of the day.

THETA/USD also trades in a total bear market at $7.9, a 23 percent price drop. Nevertheless, this should be good news for traders who have not yet invested their fiat in the cryptocurrency market. Iinvestors willing to invest in the crypto space should invest their money at such a time when the market is bearish and wait for the bulls to reverse the bear trend and sell off the assets making profits.

Theta price movement in the last 24 hours: Bulls control THETA/USD market

THETA/USD started off the daily price analysis chart while sellers controlled the THETA/USD market. The bears drove the prices to intraday lows of $6.78, where the bulls had created strong support to facilitate price surge, forming head and shoulder trends to the intraday highs at $7.1.

The Bollinger bands are wider on the 24-hours price analysis chart, indicating that many activities are taking place in the market hence the high volatility.

THETA/USD four-hour price analysis chart: Theta dips further

The coin appears to be trading in a bear trend on the 4-hour price chart.

Theta token price analysis: THETA/USD drops to $7.9 1
Source: Tradingview

The RSI is at 25 in the oversold region. This is an indication of a strong bear trend. This trend is likely to continue throughout the week as we wait for a bullish reversal over the weekend.

Theta token price analysis: Conclusion

Most virtual assets are trading in a relentless bear market, sending the prices past the week’s support. The bear market does not show signs of coming to an end anytime soon. Investors, however, should buy the asset during the week when the coin’s price is low and sell the asset when the coin gain bullish momentum, probably over the weekend.

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.

Sergio Goschenko

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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