The cryptocurrency industry continues to see significant price fluctuations with top tokens adding noteworthy value to portfolios. Additionally, the DeFi category has garnered significant interest from investors over the past few days, indicating potential price action for these tokens in the coming days.
The Theta Network price has surged 13.52% over the past 24 hours, making it one of the industry’s top gainers on the day. It also added 51.84% this month, highlighting the token’s positive fundamentals.
THETA Network is making meaningful progress!
THETA token showed a neutral trend during the first 12 days of the month, trading between $0.934 and $1.043. During this period, the bulls failed several attempts to break out of the resistance level, indicating a bearish impact on the market.
However, as market volatility increased, the bulls successfully broke through the resistance level, after which the price traded sideways for the next few days. The Theta Network price subsequently rose 17.52% before rejecting at $1.341.
The price then traded in a consolidated range between $1.141 and $1.341 for about a week, during which time the price showed significant fluctuations on the charts. THETA price recently regained momentum after testing the low of $1.253, recording a surge of 18.43% and has been hovering close to the resistance level since then.
Moving Average Convergence Divergence (MACD) displays a persistent green histogram, indicating positive price movement in the cryptocurrency industry. Moreover, the average shows a significant increase, suggesting that the price will continue to gain value in the future.
Will THETA coin rise?
If the market pushes the price above the resistance level of $1.484, the bulls will regain momentum and prepare to test the upper resistance level of $1.60. Maintaining the price at this level will set the stage for THETA token to test the $1.70 upper limit in the coming weeks.
Conversely, if the market experiences a trend reversal, the altcoin will lose momentum and fall to test the support level at $1.341. Additionally, if the bears continue to dominate the market, they will move lower and prepare to test the lower support level of $1.253 in the future.