Price Analysis

Theta Coin Price Rises High Despite A Bloodbath In Crypto Space


    Theta coin keeps the bullish trend intact while majority of the crypto assets plunge hard

    The strong bounce off the support levels, indicate a more intensified rally upcoming for the token

Theta coin price remained less impacted with the recent Bitcoin price plunge that drained almost the entire crypto space. Despite undergoing a low key dip, the price bounced back off the lows within a very short span of time.

The price is  currently trading within an ascending parallel channel maintaining the resistance and support levels uniformly. The price, undergoing the recent dip bounced off the key support levels at $8.2 and quickly regained the $10 spot. Therefore once the upper trendline is broken well, the next stop would be straight at $22.

Also Read: Altcoins to Buy In the Dip: BTC, ETH, ADA, XRP and BNB

Moreover, the huge influx of the volume that rose to $636,152,802, nearly a jump of 129.58% compared to the previous trading day, uplifted the price during the trembled situation. The market capitalization also rose above $10 billion, gaining the entry in the top 20 cryptocurrency list. 

The price as mentioned rallied high after bouncing the pivotal zones and hence the possibilities of forming a new all-time are high. Currently, theta token is on the verge of breaking the neckline of the ‘W-shaped’ pattern which signifies an uptrend.

theta price chart

At the time of writing the Theta coin price is $10.17 with a jump of 0.54% in the past 24 hours. Currently it is mandatory for the price to sustain well above $10 and continue the flow towards the north to hit the resistance levels at $12.82. On the other hand the Theta coin price needs to avoid the dip towards the support levels around $8.93.

Also Read: Why Is Elon Musk Playing With Bitcoin Price?

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Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

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