- The price after a false breakout is now falling over the daily and hourly chart. The bulls need to take care of the crucial support.
- The volume slumped 38% over the intraday trading session.
- The THETA/BTC pair is at 0.00006692 BTC with a gain of 1.63% in it,
The THETA price after falling in a downtrend made a false breakout and now is again falling over the daily chart. This shows the bears are strongly opposing the bullish dominance so the price may fall again as the bears have started dominating again. The trading volume slumped 38% in the intraday trading session. The coin needs to recover as many investors are facing huge losses and the bulls need to accumulate to prevent the coin from falling below the crucial support of $1. The coin is currently trading above the exponential moving average, Investors need to wait to make any move or else they can book a loss.
The current price for one THETA coin is trading at $1.43 with a gain of 2.95% in its market capitalization in the last 24 hrs. The coin has a trading volume of 84 million with a huge loss of 38% in the 24 hrs trading session and a market cap of 1.4 billion. The volume market cap ratio is 0.05856.
Short-term Analysis for THETA
The THETA price after waves of a strong uptrend is now all set to bear the bearish dominance over the short term (4 hrs) graph. Bears made the price fall 6 percent in just 3 hrs.
Technical indicators like MACD just gave a negative cross and now the MACD line is moving below the MACD signal line with the histograms dropping red. In support the relative strength index is indicating the same as it is making a dive showing the increase in selling pressure over the coin. The value for RSI has dropped below 55. The price is flattering after it made a cross on the upper side of the bollinger band.
Conclusion
The THETA price after falling in a downtrend made a false breakout and now is again falling over the daily chart and after waves of a strong uptrend is now all set to bear the bearish dominance over the short term graph. The THETA bulls need to take care of the crucial support ange as the technical indicators are indicating a bearish pressure ahead over the coin.
Technical levels
Resistance levels: $1.5 and $1.95
Support levels: $1.21 and $1.06
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.