THETA is a decentralized blockchain network for video-streaming and delivery. The THETA token is the native coin of this network. In the past year, the THETA token has <a href="https://www.cryptoknowmics.com/news/watch-out-for-theta-as-an-investment-in-2021/">registered high gains and entered the list of the top 20 most</a> valuable tokens.
<h2><b>Past Performance</b></h2>
The opening price of THETA on March 4, 2021, was $4. As of March 10, 2021, THETA closed at $6.49. Thus, in the past week, the THETA price has surged by approximately 62%. In the last 24 hours, THETA has traded between $5.34 and $6.78.

<img class="alignnone wp-image-190235" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2021/03/THETA11th-300x192.png" alt="THETA Price Analysis" width="675" height="432" />

<a href="https://www.tradingview.com/x/N8Q7cnag">https://www.tradingview.com/x/N8Q7cnag</a>
<h2><b>Day-Ahead and Tomorrow</b></h2>
Today, THETA began trading at $6.50. Currently, it is trading at $6.42. Thus, the price is decreasing. The market seems bearish.

The <strong>A/D indicator</strong> is upward sloping. As the price and the A/D line are moving in opposite directions, there is a positive divergence here. Thus, the price dip is temporary. High whale accumulations will exert upward pressure on the THETA price.

The <strong>RSI indicator</strong> is at 54%. The RSI faced a bullish swing rejection at 35% and rallied to the current level. Buying pressures are gradually increasing. Thus, we can expect the price to go up after some brief price corrections.

The <strong>MACD and signal lines</strong> are negative. Thus, the market momentum is bearish. But, a bullish crossover by the MACD line over the signal line implies that the price pullback is temporary. Moreover, both the lines are inching closer to the zero line and will turn positive in some time. Thus, the price uptrend will continue.
<h2><b>THETA Price Analysis</b></h2>
Currently, the price is above the <strong>Fibonacci pivot point</strong> of $6.20. If the bullish trend continues, then by the end of the day, we can expect the price to break out of the first and second resistance levels of $6.75 and $7.09 respectively.

The price is moving closer to the 23.6% <strong>FIB retracement level</strong> of $6.44. We can expect the price to break out of this level soon. As of now, the bulls are in control of the market. Hence, we can expect the price to rise throughout the day and tomorrow.

THETA in a Small Price Pullback - Technical Analysis

If the bullish trend continues, expect the price to break out of the first and second resistance levels of $6.75 and $7.09 respectively.

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

THETA in a Small Price Pullback - Technical Analysis

Top Picks