- Theta is currently resisting the downtrend and is above the support of $1. It is trading near $1.22 with a gain of 0.25%
- THETA staking has seen a strong increase in the past few months. Meanwhile, THETA/BTC pair has seen a fall of 1% in the intraday session.
THETA is a blockchain powered network for video streaming. It was launched in March 2019 and operates as a decentralized network in which users shares bandwidth for Peer to peer network. It has seen a high of $16 in the previous bull run. The asset has an ROI of 690% with a total supply of 1 Billion. It has a market dominance of 0.12%. Developers say that the project aims to shake up the video streaming industry in its current form.
The current market cap of THETA is $1,224,095,389 and is ranked 45th in the CMC. Meanwhile, the asset price volume has observed a drop of 2% in the intraday session. The volume to market cap ratio of the project suggests a consolidated trend in price.
Technical Indicators Are With Bears
THETA price has seen an increase in the staking in the past few months. The weekly technical chart of the asset price is suggests a consolidation in price. On the daily chart, the asset price is near $1.22 with a gain of more than 0.54%. The upside momentum of the asset can see a halt near $2. Meanwhile the coin price can see a bounceback near $1
RSI: RSI of the asset is near 40 suggesting its presence in the neutral zone. The overall sentiment of the RSI is neutral.
Conclusion
THETA is revolutionizing the world of streaming with new methods. The asset price is currently consolidating and can see a new high in the future. One should do their own research before investing.
Technical Levels
Major Support:$0.8-$0.76
Major Resistance: $1.8-2
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.