ThetaUSDT Technical Analysis
Key Insights
- In October 2023, THETA experienced a notable market downturn, reaching a low of $0.562 amidst a global bearish trend.
- After facing a downward movement, THETA witnessed a remarkable surge to $3.847, marking a staggering 580% increase in its price.
- Eventually, a correction ensued, and the asset is currently trading within the $1.921 POC range.
As of writing, THETA ranks 50th on CoinMarketCap with a market capitalization of $2,133,183,661
THETA Tech Analysis
In October 2023, the price of the asset reached a minimum in the global bearish trend, setting at $0.562. From this level, the uptrend began, accompanied by the accumulation of positions by market participants near the POC level at $1.042.
Then there was an impulsive growth up to $3.847, which led to a general increase in the price of the asset by more than 580%. After reaching the local maximum, the asset started a correction and is currently in the trading range of the POC level at $1.921.
THETA Price Prediction
The asset is in a descending formation within the range of the POC level, which pushes to further decrease in value.
In this context, the trend line and 200-day moving average act as support levels. With a confident rebound from these indicators, a significant growth of the asset price and renewal of local maximums is possible.
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