Theta Up Nearly 100% Still, So When Is the Crash?
Theta has had a great week so far, coming off of a 115% increase a few days ago. Some analysts expected a crash back down near the $3.80 (THETA/USD) mark, but it is still above the $5.50 level.
After Sunday’s peak that hovered near the $7 resistance level, the Theta price only dropped as low as $5.34 the next day, and then only briefly. The coin started off at $6 this morning but is back down to $5.75 for the moment.
A lot of times what happens with a weekend bullish movement is that we see tapering off or a crash over the next day or two. While there was a brief dip for Theta, it wasn’t anything severe, and the crypto has made a brief recovery. The question now is whether it will hold onto those gains for any length of time and stay well above the lows from the week of July 20th.
Right now, Theta is testing the downtrend at $7.22, where it reached in April and what has so far become the coin’s all-time high. After seeing how this crypto behaved last week, it is not impossible to think it’s going to push well past that mark in a breakout sometime over the next couple of weeks.
Where Is Theta Going?
Theta is proving to be a hard crypto to predict, as it is dashing expectations amid a very unstable period for the cryptocurrency market. It is not necessarily the crypto to place a large investment on at the moment, as it is only now coming out of a long downtrend that started a month ago. It is actually due for another bearish movement soon, if its history over the past few months is any indication.
Even though Theta looks pretty good now comparing its current price to where it was about 10 days ago, it’s fallen considerably from month to month since April. We would recommend it more as a short-term investment than a long-term one at this point.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals