Threshold price prediction suggests bulls are making a rally in an attempt to push the T price up. T token is presently making a rally to retest its immediate barrier, though it was not successful in breaching it. Presently, the price is moving just below its immediate resistance point in an effort to break above it.
The candlesticks are forming doji and spinning top patterns showing exhaustion in buying pressure. It is moving near a crucial supply zone, the breakout or rebound from which may decide the direction of future trend. Technical indicators such as support and resistance, oscillators, and EMAs suggest sellers nevertheless hold the market within their grasp.
The present value of Threshold is $9.785 (press time). It has a market capitalization of around $1.09 Billion, which has surged over the past few weeks.
Threshold Price Prediction: Technical Analysis on 1-Day Chart
Presently, the T token is pushing its vital resistance point near 50 EMA. If the price fails to break above the resistance level, the sellers may take hold of the market causing the price to fall by around 16% to 30% in the near future. The majority of technical indicators imply that a bearish decline is more liable on a daily chart.
The RSI line is mimicking the price action. It is consolidating near the median line. The current RSI value of the T token is 50.70 points, whereas the 14 SMA is providing resistance to it at around 51.90 points.
Technical Analysis on Daily Chart of Threshold/BTC
The Threshold/BTC pair is presently giving severely more volatile movements than Threshold/USDT. The Threshold/BTC token is moving below all the key EMAs taking a retest from its crucial resistance level near 50 EMA.
Price action indicates traders are less active in the trading of the Threshold/BTC pair than the Threshold/USDT one.
Here too, the RSI line is taking resistance from the median line moving near the neutral zone. At press time, the RSI is 43.72 points, whereas the 14 SMA is providing support to it at around 44.76 points.
Conclusion
According to the analysis, Threshold price prediction suggests bears are estimated to step into the price action if the price fails to break its resistance zone. Majority of Technical indicators such as support and resistance, oscillators, and EMAs back up this outlook.
Technical Levels:
Support – $0.1500
Resistance – $0.0300
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/07/10/threshold-price-prediction-will-threshold-sustain-near-the-resistance/