- Theta Network Price is trading below a descending trendline over the daily chart.
- The crypto asset fell below 20, 50, 100, and 200-days Daily Moving Average.
- The pair of THETA/BTC is at 0.00003915 BTC and has lost 6.21% in the intraday trading session.
Theta Network Price is falling below a negative sloping line and has broken below $1.50 level during the intraday trading session. THETA coin must sustain above $1.00 and avoid falling more over the daily chart. The 24-hour highest and lowest by THETA coin is at 1.26 and 1.12 respectively. This shows that the falling pressure is decreasing and now is the right time for THETA to gai uptrend momentum over the chart. THETA must attract more buyers in the intraday trading session in order to sustain above $1.00 psychological level. The existence of THETA is on the line and the token must stop rallying downward.
Theta Network price is presently CMP at $1.14 and has lost 8.09% of its market capitalization in the last 24-hour period. However, trading volume has increased by 11.81% in the intraday trading session. The positive volume change signifies that the token is now attracting buyers and by gaining steady uptrend momentum the token may register its breakout from the downward sloping line over the chart. Volume to market cap ratio is 0.0718.
THETA coin price must gain uptrend momentum to sustain above the $1.00 psychological level. However, the existential crisis rises for THETA as investors are quite afraid to invest in the crypto asset due to the ongoing bear market. THETA needs to attract more buyers to increase the trading volume in their favor. Volume change can be seen below average and needs to grow for THETA to escape the bearish trend.
Support on the lower end is at $1.00 and resistance on the higher side is at $2.00.
THETA Facing Existential Crisis
THETA coin is trying to surge over the daily chart but couldn’t attract utmost buyers and slip over the daily chart. THETA crypto slumps below the lowest level of 2021 and currently stands at the lower level from 2020. THETA is facing some serious allegations of its existence these days and now is the time for THETA to prove itself.
Technical Indicators suggest THETA being oversold any moment now. Relative Strength Index showcases that THETA is entering the oversold territory. THETA token has been moving just above the oversold zone and trying to sustain but now it seems the tokan may enter the oversold territory to gain the final uptrend momentum.
MACD exhibits the sideways momentum of THETA. However, the MACD line after crossing the signal line upwards is now again approaching the signal line to register a negative crossover.
Conclusion
Theta Network Price is falling below a negative sloping line and has broken below $1.50 level during the intraday trading session. THETA coin must sustain above $1.00 and avoid falling more over the daily chart. THETA is facing some serious allegations of its existence these days and now is the time for THETA to prove itself.
Technical Levels
Support Levels: $1.00
Resistance Levels: $2.00
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.