Theta Network (THETA) is rising breathlessly: Watch out for these levels!

The popular altcoin's market value reached $3.10 billion, while its 24-hour trading volume increased by 351 percent. Theta Network ($THETA ) has exhibited a strong upward trend in the last 24 hours, taking its price to $3.08. The popular altcoin, which received a reaction at $2.28 during the day, increased its market value by 25 percent to $3.10 billion. At the same time, its 24-hour trading volume increased by 351 percent to $548.37 million. This strong rise has attracted great interest among investors and analysts.

THETA, which recorded a remarkable increase of 29 percent in the last 24 hours, exhibited a strong rise by exceeding $2.40. At the end of the day, THETA also increased by 59 percent on a weekly basis, from $2.10 to over $3. This rise is interpreted by analysts as the beginning of a major rally.

According to Onchain data, at this breaking point of the price, derivative trading volume increased by 420 percent to $ 983.06 million. At the same time, open positions increased by 75.35 percent to $ 108.91 million.

Technical analysts believe that #THETA price has the potential to rise further. According to crypto analyst World of Charts, the price could reach $ 9 with the breakdown of the descending triangle formation. This indicates a 348 percent increase from current levels. The measurement made from the base of the triangle supports this positive view.

Another crypto analyst Javon Marks stated that THETA reversed the downward momentum by breaking the long-term trend line. Marks said, “The steep rise and higher peaks indicate that the bulls have taken control and the rally could continue to $ 8 in the short term.”