THETA Crypto: Can THETA Price Get Wings And Fly Higher?

• THETA price chart highlights the bullish sentiments and perspectives regarding the crypto asset in the daily time frame.
• Major reliable and trustworthy indicators like RSI, and EMAs, suggest and portray bullish outlooks regarding the THETA price.

Theta Network is known as a crypto platform that operates and runs, on cryptocurrency-based blockchain technology to enhance the media and entertainment industry. 

Besides, Theta endorses smart contracts that can operate on any logic and is fully compatible with Ethereum, enabling the creation of various different Web3 applications, such as NFTs, DEX/DeFi, and DAOs, for the future of media and entertainment platforms.

Moreover, it authorizes video and media platforms to lower their CDN costs, advance their revenues, and reward their users for transferring their resources on any device, such as PC, mobile, Smart TV, or IoT device. 

Theta Blockchain has a multi-layered BFT consensus mechanism that consists of a group of 20-30 enterprise validator nodes and a second layer of thousands of community guardian nodes. 

Validator nodes create and finalize new blocks in the chain, while guardian nodes monitor and verify the validator nodes. This design makes the Theta Blockchain very decentralized, and the thousands of guardians provide an extra layer of protection. 

The Theta Blockchain can handle 1,000 transactions per second, and its consensus mechanism is fast, green, and has almost no carbon footprint.

Can THETA Price Skyrocket Anytime Soon?

The THETA asset is showing bullish signs and has the potential to grow further. It performed well last month, and quarter, by 7.93%, and 96.14% respectively, indicating a strong uptrend.

The  THETA crypto is recovering as the price rallied from a crucial level of around $1.0 on the chart. The asset is exhibiting bullish strength and rising potential as it holds above major EMAs. This shows that the crypto has a good potential for the upside.

The crypto asset is displaying bullish behavior as the MACD curve has started to approach the signal line to cut from the downside, a potential bullish crossover could emerge next on the chart.

The RSI is not near the 70 level, meaning that the asset is not facing much resistance and can extend its gains. At the time of publishing, the THETA crypto is experiencing a surge of 2.02% in the last 24 hours, trading at $1.1554.

Therefore, if the demand for the THETA remains high, the asset price could bounce back from the current level. The next goal for the price could be is to reach $1.5000.

However, if the THETA crypto price fails to stay above the $1.0000 level, it could decline further.

Summary

Major reliable and trustworthy indicators like RSI, and EMAs, suggest and portray bullish outlooks regarding the THETA price.

The THETA price action highlights a bullish view at the time of publishing, as it recently attempted to surge from a pivotal level. 

Moreover, the technical parameters of the THETA price suggest the continuation of the uptrend, dependent on the buyer’s surge, over the daily time frame chart. 

THETA price highlights bullish sentiments and perspectives regarding the crypto asset in the daily time frame.

Technical Levels

Support Levels: $1.0000

Resistance Levels: $1.5000

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.