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- 1 THETA price prediction says the uptrend may continue and new swing highs are possible.
- 2 Theta Network price holds $1.00 support and bulls are trying to hit further highs.
- 3 The crypto price rose by 11% in the current week and buyers are chasing the $2.00 mark.
THETA price prediction indicates the uptrend in token may continue and new swings highs may be visible. Buyers look aggressive and trying their best to push the price to new highs.
Theta Network price rose 11% approximately in the current week and formed a bullish pattern. The Bulls are dominating and succeed in defending the $1.00 mark. It showcases the presence of buyers at the lower levels.
The trend of this token is in the upward direction and the price continues to trade above the 50-day and 200-day EMAs. Recently, the token price took support near to the $1.200 and showed a sharp bounce.
However, the trading volume remained low and did not correlate with the price movements. It indicates the lack of participation of big investors in the recent move. So, the price might retrace down before hitting further highs.
On the lower side, the 50-day EMA may act as immediate support for the bulls. If the price reverted down, buyers are available near EMA and they might try to give a bounce. Currently, the Theta Network price is trading at $1.390 with an intraday rise of 3.89%.
Will THETA Price Achieve $2.00 Mark by March 2024 End?
THETA price seems to be in the bulls’ grip and the chart pattern is also bullish. The price is trading near to the December 2023 high, which may act as an immediate barrier for bulls.
If the buyers succeed in taking control of this supply zone, the token price may rise further and march toward the $1.700 level.
However, if the Theta Network crypto faces rejection, short-term correction may be visible. The analysis suggests this token might continue its upward journey at a slow speed and may reward investors in the coming months.
Theta Network Formed a Strong Base Near $1.00
Theta Network price is turning bullish on a weekly time frame chart. It formed a strong base near $1.00, which will now act as a demand zone for the bulls. Therefore, until the price sustains above $1.00, its better to play long and stay with the uptrend.
The MACD curve slopes upward and the histogram bar is green. It shows that more scope for upside is open and bulls are strengthening their grip to hit further highs.
Conclusion
THETA price prediction suggests the positive momentum in this token may continue and new swing highs are possible.
The chart pattern says slow and steady the price may rise and journey to the $1.700 level in the coming months. However, to fly further and reach $2.00, Theta Network crypto needs the participation of big players.
Technical levels
- Resistance levels: $1.715 and $1.950
- Support levels: $1.208 and $1.104
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.