Theta Network Price Surpasses 50 EMA: Is It The Right Time To Buy?
- 1 Theta Network price fell 0.72% today and currently trades at $0.6564.
- 2 THETA crypto price has gained over 15% in the past five Intraday sessions.
- 3 The THETA crypto price surpassed 50-day EMA indicating bullishness in the short term.
Theta Network price fell slightly 0.72% today and currently trades at $0.6564. The THETA price hovers in the 15% range. The price has gained continuously in the past five sessions to surpass the 50-day EMA and reach the supply level.
The recent price hike has confirmed the presence of buyers at the lower levels. Moreover, THETA crypto has been unable to find a clear direction for the last two months. The price hovers in a range with buyers and sellers fighting with each other but none dominating the trend.
However, the long-term trend seems to be slightly on the bearish side. The Theta price had been declining and suffering rejection from the 50-day and 200-day EMA.
The volume analysis shows that the Theta Network crypto price has a trading volume of $22.76 Million in the past 24 hours which is 8.45% more than the last day. The THETA crypto has a market cap of $655.5 Million and ranks 59th in the crypto market. The volume-to-market-cap ratio is 3.72% indicating low volatility in the market.
Theta Network Price Consolidates In a Range
The Theta Network price currently trades at $0.6564 with an intraday decline of 0.72%. The price has the support of buyers from the lower levels and has surged to reach the upper supply zone.
Now, if the buyers are able to surpass the immediate supply zone, the Theta crypto may break out of a consolidation phase and surge to upper levels. However, it requires more buying volume to sustain the current level and counter the sellers.
Technical Indicators Show Bulls Regaining Momentum
At press time, the RSI line is showing a positive crossover of the SMA line. The RSI line is above the mean line indicating bullishness in the short term. The current RSI value is 65.2 and that of the SMA line is 47.76.
The EMA analysis shows that the THETA price surpassed the 50-day EMA indicating an optimistic trend in the short term.
Conclusion
Theta Network price hovers in a 15% range and currently trades at $0.6564 with a 0.72% drop. The price rose above the 50-day EMA and reached the recent supply zone. The price trend is unclear for two months and slightly bearish in the long term. The volume is low and the market cap is $655.5 Million.
The price may break out of the consolidation or fall back depending on the buyers’ strength and volume. The price also needs to surpass the supply zone to start a new uptrend.
Technical Levels
- Support Levels: $0.56 and $0.501
- Resistance Levels: $0.679 and $0.755
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.