After a Great Week, Theta (THETA) Starts Dropping
Theta (THETA) is down 4.89% today after a stellar week that saw the crypto gain 16% for the week so far. Theta is experiencing its largest bullish action in a long time, ramping up gradually rather than spiking. This could mean good things for the crypto that has lately had a hard time even getting above the $3 level.
Theta’s Bullish Movement
Theta reached a low point last week of $2.8427 (THETA/USD) that quickly turned around. The crypto token slowly made its way up to a peak of $3.3355 over the week, achieving that particular rate on Thursday.
We have seen some bullish movement from Theta over the past few weeks, but nothing as promising as this week’s achievement. Because the increase is gradual rather than sudden, we expect the decline to be less precipitous. There is opportunity for investors to take advantage of the healthy growth since it could continue to move upward over the weekend.
We are watching Theta closely right now, and it could go either way at this point. It is not likely to drop off right away, but it may not go much higher either.
Today’s decline marks the first significant drop for Theta since it started improving this week, and it could mean the end of the bullish action. There is potential for Theta to drop back down to is previous level below $3, which would continue months of struggles with that same price point for this crypto.
The market is up overall, but Theta isn’t benefitting from it much. Bitcoin and other major cryptos are all up today, and if they continue to rise over the weekend, they may pull up Theta too. Theta has little momentum of its own right now, even after the launch of a new cryptocurrency for Theta- TDrop. It is mostly dependent on the larger crypto market right now, particularly the market dominator- Bitcoin.
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