Theta Price Prediction 2024: Will Theta able to trade above $1.00

• Theta Price Prediction suggests significant increase is possible in the long run.
• The Theta Network Token price formed a double top bearish pattern.
• Theta crypto price hits multi-year low. 

Theta Price Prediction suggests an increase in the value in the long run. However, In the short term the prices are in a downtrend and bears continuing dominance. 

On a higher time frame, Theta Price formed a double top bearish pattern and dropped below the neckline support. It indicates prices are into bear grip and more downside is possible. 

From the past few weeks, Theta Price is declining by forming lower low swings and has gone far away from the EMA. Therefore, short term bounce is possible to test the EMA. 

Recently, Theta Price broke down the crucial support of $0.700 with a high selling volume and hit a multi year low at $0.571. The selling volume also surges shows some genuine investors might have exited on higher levels due to fear of further downfall. 

However, the recent downfall is due to external factors and bear failed to give the follow through momentum. Presently, Theta Price is trading at $0.656 with an intraday rise of 1.55%. The 24 hour volume to market cap is 0.87%. 

The pair of THETA/BTC is trading at 0.00002485 with an intraday rise 1.35%. The price action of Theta with Bitcoin price is also in downtrend and no signs of recovery is visible. 

Any signs of reversal visible in Theta Price

Theta Price corrected 50% approx from the swing high at $1.245 and downfall is still continuing. However, if the buyers are able to reclaim the $0.700 then prices might show short term recovery toward $0.900. 

The theta Network Price will pick up the positive momentum when it broke out of the $1.00 hurdle. On the other hand, If Theta price remains below $0.700 then the possibility of more downside will remain open. 

The crypto leader Bitcoin Price is struggling near to support. So, if BTC price recovers then it might positively impact the price of Theta as well as other Altcoins. 

The technical analysis suggests, For short term, Theta Price is in bear grip and no signs of trend reversal is visible.

Theta crypto buyers are hesitating to build longs 

Theta crypto fell 22% in the previous week which is the biggest one week fall in 2023. It shows the fear in the market and buyers hesitating to build long positions. 

Theta crypto price has disappointed the expectation of long term investors in 2023. But if it bounced back and reached $1.00 then some sort of confidence might be visible in buyers. 

The MACD curve is reversing upward and trying to generate a positive crossover. If crossover happens then we may see mild bullish momentum. The RSI at 30 reverses upward from the oversold territory and may reach the neutral zone. 

Conclusion

Theta Price Prediction suggests an increase in value in the long run. Theta price will pick up positive momentum when buyers are able to break the $1.00 hurdle. Till then prices remain bearish for the short term. The technical analysis says, Theta price might trade above $1.00 in 2024.

Technical levels

Resistance levels: $0.900 and $1.00

Support levels: $0.500 and $0.400

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.