On Sunday, Theta’s (THETA) rate fell to $1.0254 (THETA/USD), which is the lowest this coin has dipped since back in 2020. That historic low could have spelled disaster and put Theta under the $1 mark, but the coin started to rise immediately after this drop. Today, Theta’s price is $1.08 and rising.
THETA/USD
Theta’s Vital Statistics
This current price means that Theta has gained 1.75% over the last 24 hours, which is not an appreciable gain, but at least it is no longer falling and dropping close to that dangerous $1 level.
Theta’s trade volume is now down 8.65%, indicating a decreasing consumer confidence in the coin. That takes the trade volume down to $17.1 million over the last 24 hours. Theta’s ranking has also fallen in recent months, as it is down to #47 on the crypto charts, where last year it enjoyed a ranking as high as #39.
When looking at Theta’s performance for the year so far, we see that it has trended way down, as have most cryptos. The past few months have been fairly flat, when taking the long view, and Theta has had a difficult time moving much above the $1.30 level.
Where to Expect Theta to Head Next?
Because Theta has dipped so low recently, there is a tendency from investors to buy low and wait it out to sell high. However, there is no indication that Theta is going to break out above the $1.30 level anytime soon. In fact, it could fall below $1 over the next couple weeks if it continues to perform like this.
Theta could continue to rise, however, and make some temporary progress away from $1. Investors could have an opportunity to see short term profit very soon, especially if they invested near the $1.02 mark. It is possible that we will not see a drop down that low anytime soon, since it is such a drop compared to where Theta has been for the last few years. We will know shortly whether that is a fluke or the stat of an alarming pattern for the Theta Network.