Charted: THETA Rallies To Enter Top 10, Why It Could Test $20


THETA began a robust improve from the $6.50 help zone towards the TetherUS. The value is now up over 25% and it’s more likely to proceed greater above $15.00.

  • THETA began a robust rally above the $8.00 and $10.00 resistance ranges towards the TetherUS.
  • The value is buying and selling properly above $12.00 and the 100 easy shifting common (4-hours).
  • There is a key bullish pattern line forming with help close to $10.00 on the 4-hours chart of the THETA/USD pair (knowledge supply from Kraken).
  • The pair is more likely to proceed greater if it clears the $15.00 and $15.50 resistance ranges within the close to time period.

THETA Enters Top 10

After forming a help base above the $6.00 and $6.50 ranges, THETA value began a pointy improve. It broke a few essential hurdles close to $10.00 to maneuver right into a strong uptrend, outperforming bitcoin and ethereum.

The value even cleared the $12.00 resistance and settled above the 100 easy shifting common (4-hours). A brand new all-time excessive is fashioned close to $14.57 and it has entered the highest 10 cryptos by market cap. THETA is at the moment consolidating positive factors above the $13.50 help.

The 23.6% Fib retracement degree of the upward transfer from the $9.74 low to $14.57 excessive can be close to $13.50 to supply help. The subsequent main help is close to the $12.20 degree.

Source: THETAUSDT on TradingView.com

The bulls are more likely to shield the 50% Fib retracement degree of the upward transfer from the $9.74 low to $14.57 excessive close to $12.16 degree. Moreover, there’s a key bullish pattern line forming with help close to $10.00 on the 4-hours chart of the THETA /USD pair.

On the upside, the value is dealing with hurdles close to $14.50 and $15.00. A detailed above the $15.00 degree might open the doorways for an additional improve and the value would possibly surge in the direction of the $18.50 and $20.00 ranges.

Dips Supported?

If THETA value fails to climb above $15.00 or $15.50, it might appropriate decrease. The first main help is close to the $12.20 and $12.00 ranges.

The principal help is now forming close to the $10.00 zone and the pattern line. A draw back break under the $10.00 help would possibly open the doorways for a push in the direction of the $7.50 help.

Technical Indicators

4-Hours MACD – The MACD for THETA/USD is gaining momentum within the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for THETA/USD is properly above the 60 degree.

Major Support Levels – $12.20, $12.00 and $10.00.

Major Resistance Levels – $14.50, $15.00 and $20.00.



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