Whoa, Theta Is Up 8%. Where Does It Go from Here?
Theta has risen to $8.68 so far today, an increase of 7.90%. Its trade volume is up over 56% over the last 24 hours. This is definitely a crypto to keep an eye on at the moment.
Theta is only the number 25th ranked cryptocurrency, but it is consistently a good performer and has captured about 0.37% of the market share. That may not seem like much, but with Bitcoin’s dominance of the market, anything close to what Theta has is considered impressive.
How Has Theta Been Performing Lately?
Over the last seven days, Theta has been on the rise almost consistently. It struggled just before the beginning of the month, even falling under the $6.50 USD resistance line. On September 1st, Theta passed the $7 level, which is better than its performance over the last several weeks. It’s now seeing a price level that this crypto hasn’t touched since the middle of June. This is an exciting time for Theta investors, and they are looking forward to how far this crypto can go.
There are a lot of cryptocurrencies that are up at the moment, including Iota, Cardano, and Solano, some of which are sitting near all-time records. Anyone who invested after the March market crash or the dip on July 20th is starting to see dividends on their investments.
How Much Higher Is Theta Going?
As well as the cryptocurrency is market is doing, on a positive trend since late July, there is concern that the bubble may burst soon. Theta has not been a strong performer all year long, so there’s concern that it may fall short of the $10 resistance level. We may start to see a lot of investors worried that it won’t quite reach those highs and sell off their coins very soon. We could be on the cusp of a bearish trend that’s going to temporarily push down the price of Theta before it rises again.
Even after the large market crash, Theta managed to rise above the $10 level for a while, but it lost it in late May and has had trouble getting back to that point. It’s still considered a volatile but interesting crypto that could go far.
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