Theta Network Price Analysis: THETA Up By 1.54%, Time to Buy?


  • Current Theta Network Price is 1.06 dollars
  • Theta Network has a medium term resistance at $1.18.
  • The EMA(50) is currently at $1.17.
  • Support for the bears has been established at $1.04

03 October 2022 : 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 -1.34 percent, bringing the entire cryptocurrency market to $942,115,587,651. The total trading volume stands at $54,833,502,933. Bitcoin shares 39.77 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,547.55 level after an upward movement of 1.86%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 2.3 percent reaching to $1,326.36 during the previous 24 hours.
While publishing this blog, BNB traded at $288.62, following a price change of 2% within the same time frame. XRP the native coin of XRP is down by -0.52 and currently trading at $0.46. Additionally, Cardano reached $0.43 after seeing a uplift of 0.58% 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 $1.13 Support Level 1 $1.04
Resistance Level 2 $1.18 Support Level 2 $1.01
Resistance Level 3 $1.21 Support Level 3 $0.96

Theta Network Performance

According to PriceAnalysis Market Index, Theta Network (THETA) is trading at $1.06 with a trading volume of $19,364,397.00. However,THETA has seen a price increase of 1.54% in the last 24 hours.THETA price changes -2.19% over the week with a total market capitalization of $1,061,209,814.00 USD.

Theta Network Price Analysis

THETA price analysis for 03 October 2022 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) 1.09 Sell
Exponential Moving Average (10) 1.08 Sell
Simple Moving Average (20) 1.08 Sell
Exponential Moving Average (20) 1.08 Sell
Simple Moving Average (50) 1.17 Sell
Exponential Moving Average (50) 1.17 Sell

While THETA’s Williams %R indicator is at -49.041 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The first support level for Theta Network is at $1.04 while the second one is at $1.01. While taking about resistance the THETA has R1 and R2 at $1.13, $1.18 respectively. The THETA/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term buy signal as the MACD line is moving above Signal Line Which means bulls are dominating in the market. RSI implying near overbought phase while trading at 55 and is trying to break out of the neutrality zone.

Conclusions

From the technical analysis, the overall trend of the Theta Network is still bearish; however, the price action might shows an attempt a bullish reversal with its bullish engulfing candle pattern. Therefore, if THETA manages to stay above $1.04, it can provide an excellent long opportunity for THETA communnity.