THETA/USD May Break a Notable Price Resistance Level

THETA/USD has moved by roughly 3% today, which has placed it on the second spot of the crypto daily mover list. Also, its price action on the daily chart is on the verge of breaking a notable price resistance level. Let’s devote a bit more study to this market.

Theta Analysis Data
THETA Value Now: $1.0131
Theta Market Cap: $1,010,333,648
THETA Moving Supply: 1,000,000,000
Theta Total Supply: 1,000,000,000
THETA CoinMarketCap Ranking: 49

Major Price Levels:
Top: $1.0131, $1.0262, and $1.0310
Base: $1.0100, $1.0050, and $1.0000

THETA/USD Bulls Are Already Testing the Resistance at Level 50 of the Fibonacci Retracement Level

THETA/USD price action broke out of its consolidation move around level 50 of the Fibonacci Retracement level to the downside. This happened four trading sessions ago. Since the previous trading session, price action has been recording moderate gains. Consequently, this has placed Theta’s price at the same level as level 50 of the Fibonacci Retracement tool. Meanwhile, the Moving Average Convergence Divergence Indicator curves are now approaching each other for an upside crossover. Also, the bars of this indicator are growing shorter, which shows that bulls are winning.

THETA/USD Seems to Be Getting Stronger

On the 4-hour market, the THETA/USD price movement seems to be more bullish. This is coming from the fact that price candles are now appearing outside of the upper limit of the Bollinger Bands. In addition, the MACD indicator curves are rising upward and toward the equilibrium level. Also, the bars of the indicator are getting progressively taller, and this indicates progressing upside momentum. Consequently, price action seems to be headed more toward the $1.0460 price mark.

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