THETA/USD Is Trying to Conquer the $1.20 Price Level

On the 28th of October, as the Theta bulls market advance to new price levels, they broke through the $1.20 price level. The bullish move was strong, but bears had formed their strong resistance at this same price level. The market on the 28th was almost completely bullish, bears were out of the market for that day; one would have thought that the bulls market will continue on the 29th. But bears took the market for that day.

Theta Market Price Statistic:

• THETA/USD price now: $1.22
• THETA/USD market cap: $1,211,695,234.18
• THETA/USD circulating supply: 1,000,000,000
• THETA/USD total supply: 1,000,000,000
• THETA/USD coin market ranking: #46

Key Levels

• Resistance: $1.300, $1.400, $1.500
• Support: $1.050, $0.900, $0.800

Theta Market Price Analysis: The Indicators Point of View

Theta bulls found support on the 31st of October at %1.165. This support is near the difficult price level. And it gives the bulls an advantage to attack and break the $1.20 resistance price level. The bulls conquered the resistance level, and today, they are trying to find balance above the resistance level. The RSI line measures 66%. That is in the bullish market zone of the indicator. But the MACD indicator has not yet established the trend. Although the MACD has progressive bullish histograms, the indicator lines are still below the bullish zone. But they are now trying to retrace their direction out of the bearish zone. This may be because currently the price is been seriously contended for by the bulls and the bears.

THETA/USD 4-Hour Chart Outlook

For the six trading sessions of yesterday’s market, the price could not come above the Bollinger moving average. The price of Theta remains under the moving average curve. However, between the last session of yesterday into the first session of today, the bulls market conquered the price level. The second session, however, was taken by the bears, but the bullish support is preventing further fall in price below the latest bullish support.

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