Theta Token Price Forecast: Will the THETA Price Reach $2 Mark?

• 1 The Theta Token price is trading above the key moving averages, showcasing bullishness on the daily chart.
• 2 Theta/USD is showing a v-shape recovery from the lower support levels.

The Theta Token price action indicates bullishness, as THETA crypto rises above the key EMAs and sustains on the bullish zone’s upper side, ignoring the rejections. The bears are still making short positions and trying to cause a pullback in the crypto.

The Theta Token displayed bullishness and held the price above the lower supports. Buyers are accumulating the crypto and getting ready to cross $1.04 in the upcoming sessions.

The chart formation shows the buyers’ momentum and signals a positive outlook on the charts. THETA crypto’s price is aiming to achieve a breakout soon and investors are watching it closely.

The price action shows a strong chart structure with bulls’ dominance, and long buildup activity was noted in the past trading sessions. Moreover, bears were now becoming cautious due to the vertical rally that trapped bears in the past sessions.

Theta Token’s price was trading at $1.04347038 and gained 0.84% of its market capitalization during the day’s trading session. The trading volume was 27.11 Million in the last 24 hours. It demonstrates that bulls are trying to accumulate in order to surge toward the upper price range.

Technical Analysis of Theta Token Crypto Price in 1-D Timeframe

Source: Theta Token.1D.USD by TradingView

Theta Token (USD: THETA) has steadily seen its crypto price rise for the past three months, gaining 44.37% and 10.19% in the last week. Currently, THETA crypto is trying to hold on to this level after an unexpected surge in price.

It is trading above the 50 and 200-day EMAs (Exponential moving averages), which are supporting the price momentum. The current value of RSI is 49.79 points. The 14 SMA is close to the median line at 48.73 points, which indicates that the Theta Token crypto is bullish.

The MACD line at -0.02918094 and the signal line at -0.03903208 are above the zero line. A bullish crossover is observed in the MACD indicator, which signals strength in the momentum of the THETA crypto price.

Weekly-Time Frame Analysis

Theta Token crypto has shown buyers’ strength on the weekly charts. Moreover, the price traded above the key EMAs, which shows further strength in the crypto. The RSI curve is near the overbought region at 56, and a positive outlook was noted, indicating bullishness in the crypto. The MACD indicator also continued to create green bars and a bullish crossover was recorded, which indicates bullish moves.

Summary

The Theta Token (USD: THETA) technical oscillators reinforce the bullish trend. The MACD, RSI, and EMA are emphasizing favorable signs and suggest that the uptrend may persist in the THETA crypto price. Price action proposes that the investors and traders are positive on the 1-Day time frame. The price action mirrors a bullish outlook at the current moment. Nevertheless, Investors and traders should stay for the right setup for their next move and avoid FOMO.

Technical Levels

Support Levels: $0.85821907.

Resistance Levels: $1.42744520.

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions

Nancy J. Allen

Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.

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