Theta Network Price Analysis: THETA all Set to Break out of the Consolidation Phase

• Theta Network price has been trading inside a range-bound area over the daily chart.
• The crypto asset has recovered till 20 SMA and is trying to gain upto 50, 100, and 200-days Daily Moving Average.
• The pair of THETA/BTC is at 0.00004256 BTC with an intraday gain of 6.06%.

Theta Network price has been trading inside a horizontal range-bound area over the daily chart. The token is trying to gain either of the constant uptrend or downtrend momentum but couldn’t manage to register its breakout or breakdown. This time THETA bulls look pretty determined to register the token’s breakout from the range-bound area. Theta Network price has been consolidating in the range of $1.07 and $1.42. THETA coin must attract more buyers to maintain the current uptrend momentum over the chart. THETA investors need to wait until bulls sustain at the verge of the consolidation phase to register the token’s breakout. 

Theta Network price is presently CMP at $1.32 and has gained 10.69% of its market capitalization in the last 24-hour period. Trading volume has increased by 62% in the intraday trading session. This shows that THETA bulls are accumulating for the rescue of the token. Volume to market cap ratio is 0.06076.

THETA coin price is trying to gain strong uptrend momentum over the daily chart. The token must sustain above the range-bound area to maintain itself out of the consolidation phase. However, volume change is still below average and needs to grow during the intraday trading session for THETA to register its breakout. 

Support on the lower end is at $1.05, and resistance on the higher side is at $1.42.

Will THETA Make it out of the Consolidation Phase?

THETA coin price is trying to maintain the uptrend momentum over the daily chart. THETA is trying to escape the consolidation phase as it rises towards the upper trendline or neckline of the horizontal range-bound area. The token must sustain at the verge of the consolidation area to register its breakout. 

Technical indicators suggest that THETA is rising towards neutrality to surpass it. The relative strength index confirms that the THETA token is rising towards neutrality and may move towards overbought territory. 

MACD exhibits the consolidation phase of THETA over the chart. The MACD line is above the signal line and is approaching the 0 to enter the positive zone.

Conclusion  

Theta Network price has been trading inside a horizontal range-bound area over the daily chart. The token is trying to gain either of the constant uptrend or downtrend momentum but couldn’t manage to register its breakout or breakdown. However, volume change is still below average and needs to grow during the intraday trading session for THETA to register its breakout. THETA investors need to wait until bulls sustain at the verge of the consolidation phase to register the token’s breakout. 

Technical Levels

Support Levels: $1.05 and $0.95

Resistance Levels: $1.42 and $1.60

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.