Theta (THETA) – Where will it move Now?

Related Topics

Facebook
Twitter
LinkedIn
WhatsApp

According to coinmarketcap, the total supply of THETA is around 1B THETA and all of the THETA are in circulation at the moment. It holds the 40th rank according to market cap and has a market dominance of about 0.20%.

At the time of writing, THETA is being traded at the price of $4.74 with an increase of almost 4.97% in the last 24 hours. The maximum and minimum today are $5.07 and $4.50 respectively. The daily trading volume has also increased by almost 8.47%. THETA had created its ATH in April 2021 and reached a price of almost $15.880. The price later dropped down to a price of almost $3.495 during the month of July. Since then the price has shown reversal and has been on the same trajectory since then. The price did show strength in the beginning but once again, the price is nearly at the bottom. We have seen a decrease of almost 28.35% this month.

Technical Analysis – Theta

On the daily time frame, we can see that the coin was creating lower lows and lower highs after getting rejected from the top. Since the crash of July, the price wasn’t able to recover and fell down to a minimum.

The price showed some reversal but it wasn’t very strong and quickly dropped down to an even lower level. After that, the price carried upwards for a few backs before retracing down to the same level. This created equal lows with liquidity below.

Theta -1W

Now the price of Theta has two reasons to drop below. One is the presence of equal lows and the second is the order block that is present below. Chances are that the price would drop down to mitigate the order block or may as well show a reversal after grabbing the liquidity.

Lower time frame confirmations should be taken into consideration while making an entry to have a more accurate entry in the price. If the price drops down further you can DCA and ultimately the chances are that the price would bounce back from the order block

Price Prediction

According to the traders, THETA is a good investment and is providing a great return. Wallet investor considers THETA to be a really good investment as well. According to them, in a year the price is expected to reach a value of $10.809. In five years the price is expected to reach a value of $35.371.

Leave a Comment

Your email address will not be published.

Latest Posts