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- 1 Theta Network price prediction showcases the decline of THETA crypto inside the horizontal range-bound area.
- 2 THETA crypto slipped below 20, 50, 100 and 200-days daily moving averages.
- 3 Theta Network cryptocurrency declined around 15.27% year to date.
Theta Network price prediction highlights the fall of THETA inside the consolidation phase over the daily time frame chart. Now buyers need to accumulate in order to push THETA back towards the upper price range of the consolidation phase. Meanwhile, the sellers’ accumulation is higher as compared to buyers’ and this is confirmed by the slippage inside the horizontal range.
Nevertheless, THETA crypto may initiate its recovery as it approaches the lower price range of the consolidation phase. Buyers must push THETA upwards to initiate its recovery by providing desired support from the lower price range.
Theta Network price was at $0.618190000 at press time. Market cap shed 0.61% while trading volume fell by 47% intraday. This demonstrates the higher accumulation of sellers to pull THETA down. Volume to market cap ratio was at 8.24%.
Will Theta Network Price Bounce Back?
Theta Network price prediction indicates the slippage of THETA crypto inside the consolidation phase over the daily time frame chart. THETA crypto price has been consolidating since August 2023. THETA crypto price has been fluctuating inside the price range of $0.57558610 and $0.67304961. However, volume change is below average and needs to grow in favor of buyers for THETA crypto to initiate its recovery.
Meanwhile, THETA crypto slipped below 20, 50, 100 and 200-days daily moving averages. The cryptocurrency declined by 2.45% in a week while gaining around 1.93% in a month. Moreover, THETA slipped around 12.79% in the last three months and 41.74% in the last six months. Theta Network cryptocurrency has slumped around 15.27% year to date. This shows the struggle of THETA crypto in 2023 till now.
Technical indicators suggest THETA cryptocurrency will fall inside the horizontal range-bound area. Relative strength index (RSI) confirms the fall of THETA crypto. RSI was at 46 and is heading towards the oversold territory. Investors in Theta Network cryptocurrency need to wait for any directional change over the daily time frame chart.
Summary
Theta Network price prediction indicates the fall of THETA inside the consolidation phase over the daily time frame chart. Buyers must push THETA upwards to initiate its recovery by providing desired support from the lower price range. Theta Network cryptocurrency has slumped around 15.27% year to date. Technical indicators suggest THETA cryptocurrency will drop inside the horizontal range-bound area. Investors in Theta Network cryptocurrency need to wait for any directional change over the daily time frame chart.
Technical Levels
Support Levels: $0.60268993 and $0.58653557
Resistance Levels: $0.63836414 and $0.67304961
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.