THETA/USD Moved a merger 2.15% upwards today. Be that as it may this crypto is the one with the highest movement today. And, as a result, the crypto current price is now $1.1997. What can be expected of this crypto? This we shall find answers to soon.
THETA Current Price: $1.19972
THETA Classic Market Cap: 1.2 billion
THETA Classic Total Supply: 1 billion
THETA Rank: 45
Resistance: $1.1200, $1.1500, $1.1997
Support: $1.1100, $1.1000, $1.000
THETA/USD Price Prediction: THETA Experiences Upside Gains Yet Vulnerable
Theta has move up in value today, yet the THETA/USD daily chart suggest that the crypto is still weak. On this chart we can view the latest candle formed in between the MAs: 9 and 21-days Moving Averages. Consequently, this indicates indecision and weakness in this market.
With further Observation, we can also see that the lines of the SRSI: Stochastic Strength Indicator, are bending towards each other. Thus, this reduces the separation between them, and brings trend reversal closer. Therefore, these lines may cross each other, perhaps below or at 70% level on the SRSI. This will portray the weakness of THETA’s upside gain.
THETA/USD Price Prediction: THETA Appears Resilient
On shorter time frame THETA/USD seems to be resilient, going by indicator readings. The last candle on this chart was split into two by the MA lines, plus it is a bullish one. Furthermore, the SRSI indicator curves seems to be making an attempt to reverse its downtrend. This is because the lines are preparing to cross each other on their way to the oversold zone.
Eventually, if this happens THETA price will surely get to $1.3000 level. However, it could be too ambitious to think that price could reach $1.5000 and $1.6000.
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Image and article originally from insidebitcoins.com. Read the original article here.