THETA breaks through the bottleneck, or welcomes a 37% surge!

Click on the avatar to watch live and catch the bull market!

Against the backdrop of a generally sluggish crypto market, Theta Network's native token THETA has attracted investors' attention due to bullish technical signals. Despite market volatility, THETA seems to be building momentum, ready to welcome a wave of increase.

Technical Analysis: THETA is about to break through

According to the latest technical analysis, THETA has formed a bullish 'descending triangle' pattern on the daily chart, indicating an imminent breakthrough of key price levels. If THETA can close above $2.41, a potential surge of 37% is expected, hitting $3.33.

Currently, THETA's Relative Strength Index (RSI) is at 43, indicating potential upward momentum. Meanwhile, the 200-day Exponential Moving Average (EMA) serves as a support line, successfully attracting investors' interest.

Strong buy signals from whales and traders

On-chain data shows that THETA's spot outflow reached $2.02 million in the past 24 hours, indicating that long-term holders are increasing their positions, creating potential buying pressure. Additionally, the long-short ratio on Binance is 2.25, meaning most traders hold a bullish outlook on THETA, with 69.2% of top traders holding long positions.

Market participation has decreased, but bullish sentiment remains

Currently, THETA's price is around $2.21. Although it has slightly decreased in the past 24 hours, the decline in trading volume is small (only 5.75%), indicating that market participants are still paying attention to the movements of this token.

Click on the avatar to watch live and catch the bull market!