02 December 2023 : 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.
Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $1,455,479,819,235. The total trading volume stands at $49,064,393,248. Bitcoin shares 52.1 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $38,769.10 level after an upward movement of 2.31%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 0.52 percent reaching to $2,093.09 during the previous 24 hours.
While publishing this blog, BNB traded at $228.45, following a price change of -0.01%within the same time frame. XRP the native coin of XRP is up by 0.71 and currently trading at $0.61. Additionally, Solana reached $60.44 after seeing a uplift of 0.7% 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.
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|
The price of Theta Network (THETA) is at $1.01, up 0.49% in the past 24-hours and has a price change of 2.61% over the week. One day trading volume for BTC is 18,774,144.00 USD while total marketcap reached $1,009,794,736.00 USD. There are almost 1,000,000,000 are in circulation out of 1000000000.
THETA price analysis for 02 December 2023 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.
|Simple Moving Average (10)||1.01||Sell|
|Exponential Moving Average (10)||1.02||Sell|
|Simple Moving Average (20)||1.04||Sell|
|Exponential Moving Average (20)||1.04||Sell|
|Simple Moving Average (50)||1.09||Sell|
|Exponential Moving Average (50)||1.08||Sell|
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. THETA has a nearest resistance of $1.04. A bullish breakout in this resistance level would boost the uptrend momentum. The buyers could then target the resistance R2 placed at $1.08. Alternatively, if the investors turn against the Theta Network (THETA), the bears might control the market and take THETA price below the crucial support level of $0.96. 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.
Theta Network market shows a bullish signs, and bulls can push THETA higher in the coming sessions. THETA has a resistance at $1.04, beyond which the coin would move toward next crucial resistance at $1.08.