How Is Theta (THETA) Recovering from Saturday’s Nosedive?
Theta is down a bit today (3.36%), hitting $4.61 (THETA/USD) and is still have trouble coming back from Saturday’s drop. On December 4th, Theta fell from $5.7869 to $3.7521, which is one of the biggest drops we’ve seen for the year for this crypto.
That’s significant, since Theta was climbing its way up the ranks and moving past the #30 spot not very long ago. Now, it’s hovering near the #40 spot at #39 among cryptocurrencies.
How Is Theta Doing?
Theta is struggling right now, sitting at the lowest level since July. The good news is that it is leveling out. We are not seeing a bearish trend for this crypto, but at the same time, it’s not making a recovery of any kind. It’s simply spinning its wheels.
Theta did manage to come back from the drop later on Saturday, clawing its way back to a high of $5.23 before the end of the day. That’s been the most significant recovery so far, and we are not seeing any major movement beyond that. Theta has fallen a bit since then, but not significantly.
Where Might Theta Be Heading?
We expect Theta to make its way back up to $5 soon, though its trajectory is not headed in that direction. Looking back on Theta’s recent history, it has proven to be resilient and healthy. We expect the drop from Saturday to be something of a fluke, as Theta was simply a casualty of the industry being pulled down on that day.
There is exaggerated movement throughout the entire cryptocurrency market as equity sell-offs affected the crypto market. Because of the way cryptocurrency reacted to that event, we expect the market to mostly recover in the coming week or two.
Theta should be moving past the $5 mark very soon, working its way back up to $6 before the end of the year. If you’re looking to make some money with this crypto, now is very good time to invest. There is no reason to expect that Theta will go much lower than it is now, and analysts are certainly not expecting a significant drop for the crypto at this point.
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