Theta [THETA] Eyes $15 But Bears Could Delay This Journey

Theta [THETA] Eyes $15 But Bears Could Delay This Journey

While the crypto market was turning green, Theta [THETA] was the only asset that was drowning in the red sea. THETA gained traction after it jumped up the crypto ladder and made its way into the top ten. The altcoin’s price also followed suit as it surged to an all-time high of $14.99. However, this trend was soon changed as the coin was seen slumping. The altcoin, during the time of writing, was trading for $12.30 with a 5.41% drop in its price over the last 24-hours. Despite this short-term drop, altcoin witnessed a whopping 49% rise in the last seven days.

Additionally, the market cap of the asset was noted at $12.35 billion. The asset managed to overtake prominent coins like Litecoin [LTC], Chainlink [LINK] as well as Bitcoin Cash [BCH].

Theta [THETA] One-Hour Price Chart On Binance

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Theta [THETA] Eyes $15 But Bears Could Delay This Journey 1

In the one-hour price chart of THETA on the cryptocurrency exchange, Binance pointed out a bearish sentiment. The Parabolic SAR indicator laid out dotted lines over the candlesticks. This line further destroyed the altcoin’s chances of an immediate uptrend. The Chaikin Money Flow indicator was seen heading over to the bearish arena. The CMF marker was noted at zero median and was facing towards the bearish side.

The Money Flow Index indicator announced that the altcoin was being excessively sold as opposed to being bought.

Theta [THETA] One-Day Price Chart On Binance

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Theta [THETA] Eyes $15 But Bears Could Delay This Journey 2

The bulls noted in the one-day price chart of the altcoin brought back hope into the market. The MACD line was over the signal line and went on to form a bullish crossover. The Awesome Oscillator indicator laid out bold green closing bars which are once again touted as bullish. The Relative Strength Index indicator revealed that the altcoin was being oversold.

The short-term blip in the asset’s market could slow down the coin’s progress to $20. However, the bulls on its one-day price chart affirmed the altcoin’s journey towards a new high.

Published at Sat, 27 Mar 2021 13:05:27 +0000

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