Will THETA Price be 2X Over Time?

Theta price prediction suggests that a steady rise in the value is possible. Theta Network price recovered 35% from the swing low at $0.572 and tried to climb above the 50 day EMA. If buyers succeed, then the short term trend will reverse in the favor of the bulls.

In mid-April, Theta price attempted to break out of the $1.300 hurdle. Sadly, the attempt failed and prices reverted in the downward direction. Slowly and steadily, prices declined by forming lower lows and lost the gains of 2023.

Theta Network fell miserably in the start of June and hit a yearly low at $0.572. The downfall lacked momentum near the lows as prices entered into a consolidation phase. Presently, Theta price is in recovery mode and buyers are trying their best to rebound.

Theta crypto witnessed a spike in volume, the price followed in the same direction. It denotes that serious investors injected the money at the lower levels and expect the recovery to continue.

Theta Network price is trading at $0.754 with an intraday decline of 1.44%. The 24-hour volume to market cap ratio is 2.24%.

Will Theta Price Reach $1.00 Soon?

Theta price is near the demand zone and buyers are trying to recover the previous losses. Well, the 200 day EMA is placed slightly higher which will act as an immediate hurdle for the bulls.

Theta Network price chart will show an uptrend when buyers will be able to break out of the $1.00 hurdle. Till then, the prices are expected to consolidate in the range between $0.600 to $1.00.

The probability of a $1.00 breakout will increase when buyers will be able to sustain the price above the price above the 50 day EMA. Whereas, if the price faces rejection from EMA then bears may again try to drag it down to yearly lows.

The technical analysis suggests, Theta Network price is recovering and might achieve the $1.00 mark in the coming months.

Theta Network Price Analysis

Theta Network price forming a bullish hammer candle on the weekly time frame indicates the presence of buyers at lower levels. If the overall market recovers then it will positively impact the price of Theta.

The MACD curve is rising upward and displaying a positive crossover indicates bullishness. The histogram bar is on rise shows the strength in the recovery. The RSI at 52 sloping sideways denotes neutral territory and prices might consolidate for some time before deciding direction.

Conclusion

Theta price prediction is bullish in the long term but prices will gain momentum only after $1.00 breakout.

Theta Network price is in recovery mode and buyers are trying their best to rebound. The technical analysis suggests, The probability of reaching $1.00 remains high and prices might also get doubled from the current levels.

Technical levels

Resistance levels: $0.941 and $1.300

Support levels: $0.572 and $0.500

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing