Theta price analysis: Bears drag price levels down to $2.819 end

TL;DR Breakdown

• Price has devalued up to $2.819.
• Theta price analysis predicts downtrend.
• Support is still found at $2.07.

The latest Theta price analysis confirms the bearish return, seemingly intensifying the selling activity. The one-day price chart shows red candlesticks marking a drop in coin value, as it is now settling at a $2.819 low. Although the bulls took hold of the market in the preceding week, the current market trend is going relatively to support the sellers. Further downfall in THETA/USD value is expected in the next few days.

THETA/USD 1-day price chart: Cryptocurrency value slips back to $2.819 margin

The one-day Theta price analysis predicts a bearish trend for the market as a sudden drop in price was observed in the past few days. Although the bulls were progressing quite swiftly in the earlier weeks, the trends are shifting in favor of the sellers. The coin value has been reduced to $2.819 due to the latest bearish shock. The price has gone even below its moving average (MA) value which is standing at $2.868.

The Bollinger bands are expanding, which means that further downturn in price is quite expectant. The upper value of the Bollinger Bands Indicator is now $4.557, whereas the lower value is now $2.07. The Relative Strength Index (RSI) graph shows a bearish curve as the score has downgraded to 34.41.

Theta price analysis: Price stumbles at $2.81 due to bearish takeover

The THETA/USD value has undergone a decline in the past four hours, as the price has covered a downward movement. The four-hour price chart shows red candlesticks occupying the leading position, and the price has been lowered to $2.819 low. The selling activity will likely intensify further as the bearish pressure is heightening up. As mentioned in the four-hour price chart, the moving average value is at a $2.902 high.

Due to the latest downturn, the Bollinger bands average is now touching the $2.89 mark. The upper end of the Bollinger bands indicator is at $3.042, and its lower end is at $2.739. The RSI graph shows a downward curve, and the score experienced a massive fall up to 43.38, which is quite a neutral figure.

The bears have been controlling the market for the past few weeks, and the selling activity has been continuously intensifying. This is further confirmed by the selling indication given by the above technical indicators chart. Moreover, 15 indicators are currently occupying the selling position; ten indicators are on the neutral while only one indicator is on the buying position.

The Moving Averages Indicator shows a strong bearish sign, a further indication of the declining trend. We can find 14 indicators on the selling corner, one indicator on the neutral, and zero present on the buying one. The Oscillators predict a neutral trend as nine indicators are on the neutral side, while one each sits on the selling and buying sides.

Theta price analysis conclusion

The one-day and four-hour Theta price analysis supports the sellers, as a drop in price was detected in the last 24-hours. The one-day price chart shows the coin value settling on the $2.819 mark due to the latest bearish push. Furthermore, the hourly price chart also indicates an unexpected decline in the THETA/USD market price.

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