THETA Hits 3-Month High, While Near Climbs 17% on Friday – Market Updates Bitcoin News

Theta Network traded at its peak in three months Friday as prices broke through a critical resistance level. Today’s move comes as crypto markets were mostly higher in the session, climbing 2.86% as of writing. Near protocol rose 17% also, reaching multi-month records.

ThetaNet (THETA)

Theta network (THETA) was one of Friday’s notable gainers, as prices rose by nearly 16% in today’s session.

Friday’s surge saw the token hit an intraday high of $1.65, which comes less than 24 hours after trading at a low of $1.37.

Today’s rally sees THETA/USD climb to its highest point since May 11, when price was at a peak of $1.84.

Biggest Movers: THETA Hits 3-Month High, While Near Climbs 17% on Friday
THETA/USD – Daily Chart

According to the chart, THETA’s move occurred as THETA broke away from $1.57 (its key resistance level), which was two days ago.

It also surpasses a ceiling at 62 for the relative strength indicator (RSI). As of this writing it is at 65.30.

This marks the most significant point in price strength since April and it comes at a time when THETA is overbought.

As a result, bears may look to enter the market again in future sessions.

Near Protocol (NEAR).

The token rose by 17% on Friday as Near Protocol (NEAR), traded higher than THETA.

Following a low of $4.33 on Thursday, NEAR/USD raced to a peak of $5.19 earlier in today’s session.

This high, like THETA’s, came just as the long-term resistance of $4.80 was broken.

Biggest Movers: THETA Hits 3-Month High, While Near Climbs 17% on Friday
NEAR/USD – Daily Chart

Since June 10, when price plunged to $3.11, this ceiling has been in place.

The 14-day RSI rebounded from these declines and now tracks at 68.

This has led to prices being overbought. However, bulls seem keen to push even further, and they are aiming for a $5.55 ceiling.

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Is it reasonable to expect near protocol’s price rise even if the market is overbought. Please share your views with us in the comments.

Eliman Dambell

Eliman has a unique perspective on market analysis, having been a broker director, educator in retail trading, and commentator in Crypto, Stocks, and FX.

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