THETA/USDT Downward Correction Halts Above $2.00

The THETA/USDT market has been correcting downward during the recent crypto bloodbath. However, this token has seen a moderate recovery shortly after its price action pulled back just above the $2.00 threshold level. We can only hope to see more in this market.

Theta Statistics:

Theta Price: $2.326

THETA Market Capitalization: $2.36B

Theta’s Circulating Supply: 1B

THETA’s Total Supply: 1B

Theta CoinMarketCap Rank: 57

Key Price Levels:

Resistance: $2.500, $3.000, $3.500

Support: $2.00, $1.500, $1.000

THETA/USDT Bulls Resume

Buyers in the Theta token market seem to have regrouped strongly around $2.00. The previous session showed that buyers had scooped the token considerably via its upwardly contracted body.

The ongoing session has started on a strong note and has retained recorded gains whilst standing above the 50-day Moving Average (MA). Meanwhile, the Stochastic Relative Strength Index (RSI) lines have delivered an upside crossover deep in the oversold region. The lines aren’t moving exaggeratedly and as such suggest that upward forces may be quite strong.

Theta Eyes the $2.500 Threshold Level

Price action in the THETA/USDT 4-hour market has been moving upward. Here, the market has been retracing to higher price levels over the past four sessions. The ongoing session has remained on the same path, while the corresponding price candle hints at growing bullish momentum.

However, price action has only surpassed the 20-day MA lines. Likewise, the Stochastic RSI lines are already in the overbought region. The lead line is already at the 100 mark and seems prepared to drag sideways at that mark. Therefore, traders can still aim at the $2.500 mark to be on the safer side given the overbought condition.

Start using a world-class auto trading solution.