THETA Displays A Bearish Reversal! Theta Network To Plunge 15%?

The crypto market continues to display a significant price fluctuation in the chart as top altcoins record constant volatility in their respective portfolios. Further, the THETA price has erased all its gains from the recent pump, indicating a strong liquidation point in the crypto space.

Theta Network Price Stumbles Again!

After displaying a neutral trend for a while, the bulls recorded a significant jump of 36.67% before facing rejection above the resistance level of $3.135. Following this, the Theta Network price displayed significant volatility in the chart, and after recording a top of $3.590, the bulls lost momentum.

TradingView: THETA/USDT

The THETA price constantly traded under a bearish influence and fell to test its low of $2.445 during the third week of March, after which the bulls successfully regained momentum and broke out of the resistance level. Since then, the altcoin has been trading in a consolidated range between $2.695 and $3.135. 

The Technical Indicator, MACD, displays a constant decline in the green histogram, indicating an increase in the selling-over-buying pressure in the crypto industry. Moreover, the averages show a high possibility of a bearish convergence, suggesting a negative price action for it in coming time.

Also Read : Altcoin Rally On The Horizon! CORE, JUP, And FLR Price To See Massive Surge?

Will THETA Coin Go Up?

If the market holds the price above the resistance level of $2.905, the bulls will regain momentum and run to test its upper resistance level of $3.135. Further, if the price continues to trade under a bullish influence, it will prepare to test its upper resistance level of $3.335 this month.

However, if the bulls fail to regain momentum, the THETA coin price will continue trading under a bearish influence and test its low of $2.695. Furthermore, if the bears hold power over the bulls, it will plunge further and test its crucial support level of $2.445 during the upcoming weeks.

Also Check Out : BCH Price Analysis: Will Bitcoin Cash Hit $1000 This Week?

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