Key highlights:
- THETA is up by a complete of 13% right this moment because the cryptocurrency breaks again above $12 to succeed in $13.30.
The cryptocurrency had dropped from its ATH value at $14.97 however discovered assist at $11.45 (.236 Fib) in April.
Towards Bitcoin, THETA discovered assist at 19,300 SAT (.382 Fib) in April and has since rebounded again above 23,180 SAT
| Theta value | $13.19 |
|---|---|
| Key THETA resistance ranges | $14, $14.97, $16, $17, $17.35 |
| Key THETA assist ranges | $13, $12, $11.45, $11, $10.63 |
*Value on the time of writing
Whereas the remainder of the market sinks, THETA continues its epic climb with a 13% value hike right this moment, permitting the cryptocurrency to interrupt again above $12 and attain as excessive as $13.30.
The decentralzied video streaming community dropped from its ATH value towards the top of March after the staff introduced that their mainnet must be delayed till June. In consequence, THETA began to drop till assist was discovered at $11.45 throughout the begin of April, supplied by a .236 Fib Retracement degree.
The launch of Theta Mainnet 3.0 is now slated for June 2021, and it’ll lay the inspiration for a brand new NFT platform on the community. It is going to additionally add over 100,000 Elite Edge Nodes and can make it extra environment friendly to reward customers in addition to permitting TFuel token homeowners to stake their belongings.
Theta continues to climb the coin market cap rankings is now ranked within the eleventh place because it holds an $11.59 billion market cap.
THETA Coin Value Evaluation
What has been happening?
Looking on the each day chart above, we will see how THETA was surging towards the top of March because it pushed increased from the mid-March assist at $7.00 and continued to climb till reaching its ATH value at $14.97 towards the top of the month.
Sadly, after reaching the ATH value, the staff made the announcement that the Mainnet 3.0 launch can be delayed till June 2021. In consequence, THETA rolled over and rapidly dropped as little as $10.60, the place it discovered assist at a brief time period .5 Fib Retracement.
It went on to rebound from this assist however couldn’t overcome resistance at $13.16 after a number of makes an attempt towards the top of the month.
Within the ultimate days of March, THETA dropped from the $13.16 resistance and began to go decrease till assist was discovered at $11.44 initially of April. This assist was supplied by an extended termed .236 Fib Retracement degree, and it supported the market within the first few days of April.
Right this moment, the 13% value surge allowed THETA to interrupt above $12 and attain the present $13.25 degree.
THETA value quick time period prediction: Bullish
THETA is taken into account to be strongly bullish proper now. The coin would want to fall beneath $10 to be thought of as impartial once more and must proceed additional beneath $6.00 (100-day EMA) to be at risk of turning bearish within the quick time period.
If the sellers push decrease, the primary degree of assist lies at $13. That is adopted by $12, $11.44 (.236 Fib Retracement), $10.63 (quick time period .5 Fib Retracement), and $10. Beneath $10, added assist lies at $9.57 (.382 Fib Retracement), $9.00, and $8.06 (.5 Fib Retracement).
The place Is The Resistance Towards The Upside?
On the opposite facet, the primary degree of resistance lies at $14. That is adopted by resistance on the ATH value of $14.97, $16, $17, and $17.36 (1.272 Fib Extension).
If the patrons can proceed to drive past $18, increased resistance could be anticipated at $18.58 (1.414 Fib Extension), $19, $20, and $20.34 (1.618 Fib Extension).
What has been happening?
The state of affairs is pretty comparable for THETA/BTC. The cryptocurrency had turned parabolic towards the top of March after breaking above an ascending value channel. It then exploded increased to succeed in the ATH value at 27,745 SAT towards the top of the month.
Sadly, it began to fall decrease from the ATH till assist was discovered at 19,300 SAT initially of April. This assist was supplied by a .382 Fib Retracement degree, and it held the market within the first few days of April.
Right this moment, THETA rebounded from this assist and climbed above 22,000 SAT to succeed in the present 23,180 SAT degree.
THETA/BTC value quick time period prediction: Bullish
THETA is strongly bullish proper now. The coin would want to drop beneath the assist at 19,300 SAT (.382 Fib Retracement) to show impartial, and it will must proceed additional beneath the assist at 12,000 SAT (100-day EMA) to be at risk of turning bearish.
If the sellers push decrease, the primary degree of assist lies at 22,000 SAT. That is adopted by 20,000 SAT, 19,300 SAT (.382 Fib Retracement), 18,000 SAT, and 16,690 SAT (.5 Fib Retracement).
The place Is The Resistance Towards The Upside?
On the opposite facet, the primary degree of resistance lies at 24,000 SAT. That is adopted by 25,000 SAT, 26,000 SAT, after which on the ATH value of 27.745 SAT.
Past the ATH value, resistance lies at 30,000 SAT, 32,380 SAT (1.272 Fib Extension – orange), 33,740 (1.272 Fib Extension – inexperienced), and 36,000. Added resistance lies at 36,882 SAT (1.414 Fib Extension – inexperienced), and 38.260 (1.618 Fib Extension – orange).
Preserve updated with the most recent THETA value predictions here.
Earlier Technical Evaluation
At CoinCodex, we frequently publish value evaluation articles centered on the highest cryptocurrencies. Here is 3 of our most up-to-date technical evaluation articles:
