Theta Network Price Analysis: Will THETA maintain above $0.96


  • THETA/USD medium term support stood at $0.92.
  • The current trading volume of Theta Network is at $71,065,622.00.
  • Theta Network is presently valued at $2.31
  • Bears control THETA’s current price actions.

25 April 2024 : In this article we will walk you through Theta Network price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Theta Network, Is THETA a good investment? Theta Network support & resistance levels etc. But before diving deep into the THETA technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,368,999,217,099. The total trading volume stands at $83,066,855,038. Bitcoin shares 53.4 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $64,247.63 level after a decline of -3.76%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -3.02 percent reaching to $3,158.21 during the previous 24 hours.
While publishing this blog, BNB traded at $607.11, following a price change of -0.03%within the same time frame. SOL the native coin of Solana is down by -6.69 and currently trading at $147.47. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Theta Network Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Theta Network (THETA)

THETA Resistance Levels THETA Support Levels
Resistance Level 1 $1.04 Support Level 1 $0.96
Resistance Level 2 $1.08 Support Level 2 $0.92
Resistance Level 3 $1.12 Support Level 3 $0.88

Theta Network Performance

The price of Theta Network (THETA) is at $2.31, down -7.26% in the past 24-hours and has a price change of 17.06% over the week. One day trading volume for BTC is 71,065,622.00 USD while total marketcap reached $2,305,666,971.00 USD. There are almost 1,000,000,000 are in circulation out of 1000000000.

Theta Network Price Analysis

THETA price analysis for 25 April 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Theta Network.

Moving Averages Price Indicator
Simple Moving Average (10) 1.01 Buy
Exponential Moving Average (10) 1.02 Buy
Simple Moving Average (20) 1.04 Buy
Exponential Moving Average (20) 1.04 Buy
Simple Moving Average (50) 1.09 Buy
Exponential Moving Average (50) 1.08 Buy

The THETA/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term sell signal as the MACD line is moving below Signal Line Which means bears are dominating in the market. RSI implying oversold phase while trading at 29 and is trying to break out of the bearish zone while highlighting massive bearish strength. While THETA’s Williams %R indicator is at -53.763 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.

Conclusions

Theta Network has few recovery chances and might continue testing immediate resistance level of $1.04 in the coming days. While the gradual bullish movement in the overall cryptocurrency space can keep THETA investors hopeful.