In this Theta Network technical analysis, we will examine the current price action, trading volume, key levels and indicators for THETA-USDT. Theta Network (THETA) is a decentralized blockchain-based platform that enables the streaming of high-quality video content directly from content creators to users without the need for intermediaries. THETA’s native cryptocurrency, THETA tokens, are used to incentivize content creators and validators, as well as to reward users for contributing computing resources to the network. By leveraging blockchain technology, Theta Network aims to provide a more efficient, secure, and cost-effective solution for streaming video content compared to traditional centralized platforms.
Theta Network Price Overview:
As of September 22, 2023, Theta Network is trading at approximately 0.599 USDT. Let’s dive into the detailed price action for THETA-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.59 |
| High (H) | 0.599 |
| Low (L) | 0.586 |
| Close (C) | 0.599 |
| Volume (C) | 1,821,728.20 |
- Open (O): The opening price for today’s trading session was approximately 0.59 USDT.
- High (H): Theta Network reached a daily high of around 0.599 USDT.
- Low (L): The daily low for THETA-USDT was approximately 0.586 USDT.
- Close (C): At the time of analysis, Theta Network is trading near its daily close of 0.599 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 1.53% |
| 3D Change (%) | -2.12% |
| 7D Change (%) | -2.44% |
| 30D Change (%) | -7.28% |
| 90D Change (%) | -19.27% |
| YTD Change (%) | -17.04% |
Over the past three days, THETAUSDT has dropped by approximately -2.12%, showcasing increased market volatility. Throughout the last week, it continued to fall, with a loss of around -2.44%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with THETAUSDT maintaining a downward trend of approximately -7.28%, despite intermittent fluctuations. Examining the last 90 days, THETAUSDT has witnessed substantial decrease of approximately -19.27%, reflecting strong long-term confidence. Year-to-date, THETAUSDT has steadily declined by around -17.04%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Theta Network Live Chart:
You can access a live price chart for THETA-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.35328.
- Momentum score is -0.07276.
THETA USDT Technical Analysis
Theta Network Trading Volume:
The trading volume for Theta Network (THETA) over the past 24 hours has been insignificant, with approximately 1,821,728.20 USDT traded against THETA. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): THETA is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Theta Network is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for THETA-USDT is currently in the low zone, around 42.31804. This suggests that Theta Network is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Theta Network (THETA-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
