According to Coingecko’s online tracking service, THETA is ranked 51st in cryptocurrency market capitalization. It is currently performing well as it remains within the green zone for its price monitoring.
- THETA’s year-to date progress is not included in the chart.
- Altcoin has a 14.2% increase in 14 days
- TheTA is most likely to test the $1.2 resistance area
As of press time the currency is currently trading at $1.16, up 1.5% since the previous day. A weekly and biweekly basis, crypto rose by 17.2% and 16.8%, respectively. The altcoin also increased by 5.9% in the last 30 days.
The market is still enjoying residual momentum after the rally just a few days ago, but it still has a long way to go if the cryptocurrency market wants to surpass its all-time high of $15.72 on April 16, 2021.
TheTA remains one of the best performers in crypto right now, but potential buyers need to first do some price analysis.
TheTA price action: Diving into the Details
The crypto market experienced uncertainty over the past two months and suffered from massive selling of different assets.
THETA managed to stay calm despite everything and placed its price into a falling wedge pattern. This was bullish. However, it eventually corrected.
During the last five days, the altcoin’s charts were filled with green candles as it went up by 15% on the way to testing the $1.2 marker.
Meanwhile, the asset’s Relative Strength Index (RSI) has entered the overbought zone, indicating the need to somehow put a stop to aggressive buying from traders in order to stabilize the price rally.
Additionally, the THETA price soared rapidly in recent crypto market rallies. It needs to be corrected to correct its pattern before it resumes recovery and eventual upward movement.
Crypto Asset Forecast: Price Prediction
TheTA will paint the next few days in red as it moves towards price stabilization, just like we said earlier.
Coincodex predicts that the asset will trade slightly lower at $1.15 over the next five trading days. In the next 30 day, the sharp correction is most likely as the asset will plummet to $0.58.
There are 17 technical indicators on the token that give off bearish signs and it has settled in Fear Region of Fear and Greed Index.
Prospective buyers and investors must keep in mind that THETA will attempt to rally if it stays true to its original pattern after the price drop.
Featured Image from BlockchainReporter. Chart: TradingView.com| Featured image from BlockchainReporter, Chart: TradingView.com
Disclaimer: This analysis should not be taken as investment advice.