• THETA price has given a negative crossover in the daily chart. In contrast THETA price is seeing a loss of 7.24% in the intraday session.
  • Technical Indicators for the coin hints a bearish momentum. Meanwhile  THETA/BTC pair is at 0.0001982BTC with a loss of 3.20%.

THETA  was founded in 2019  is currently  headed by Steve Chen, co-founder of YouTube. The price is currently trading at $9.57 with an intraday loss of 6.64%. It went from a low of $2 to a high of $16 in just three months. It has a high NVT value making it one of the most anticipated project of 2021. THETA price is currently in a downtrend but can soon recover to positive levels. THETA/BTC pair is also seeing a downtrend with a loss of 2.44%.

THETA coin is currently ranked 21st with the market capitalization of $9,676,081,241 in the crypto verse. The volume of the coin has seen a loss of 43% in the 24 hrs .The market capitalization to volume ratio for the coin is 0.0285. It shows bearish momentum in the THETA price.

Technical Indicator Hints A Bearish Momentum For THETA Price

Source : Trading view

THETA price shows a strong bearish momentum on the weekly chart. On the daily chart THETA price may test the support of 8. The price is trading below 50 and above 100 Daily Moving average. The 50 MA(Red) line is at $11.405, making it temporary resistance for the coin. THETA price has given a negative cross over on the daily chart with 50MA. It gave the price push for a downtrend . The coin resistance on the upside can be seen at $14. Mean while a bounceback for the price can be seen from $8 .There is a formation of bearish engulfing on the daily chart. If the price jumps above $12 then a rally till $20 can be seen.THETA/BTC pair is seeing a downtrend but one can expect a recovery in this pair soon

RSI(Bearish): It is trailing at 45.73 hinting its presence in the neutral area. There is a negative slope formation, showcasing  that price may see a downtrend. The overall sentiment of the RSI is bearish.

Conclusion

THETA price has given a great return in the past and can continue to do so in the future. The price is currently in a slump but can soon see a recovery.It has a great team behind .THETA/BTC pair can also break past its resistance  and can climb to a new high. An investor should do their own research before investing.

Technical Levels

Major Support:$8

Major Resistance:$14

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