As of June 20, 2024, the technical indicators for THETA Network (THETA) against USDT reveals a predominantly bearish outlook.
The moving averages and technical indicators both suggest a sell trend, although there is one buy signal from the Stochastic RSI.
In detail, the moving averages indicate a sell signal with 1 buy and 11 sell signals. The simple and exponential moving averages for MA5, MA10, MA20, MA50, MA100, and MA200 all show a downward trend, underscoring the persistent bearish sentiment across different time frames. Specifically, the simple MA5 is the only one indicating a buy signal at 1.5314, while all others remain in sell territory.
Technical indicators also support this bearish view. Out of 11 indicators, 10 signal a sell, and only 1 signals a buy. The Relative Strength Index (RSI) is at 34.311, suggesting the asset is nearing oversold conditions. The Stochastic Oscillator at 30.407 and the Williams %R at -77.567 both align with the sell signals. The MACD (12,26) stands at -0.171, further confirming the downward momentum. The Average Directional Index (ADX) at 38.646 indicates a strong trend, and the Commodity Channel Index (CCI) at -109.2236 also signals a sell.
Volatility for THETA remains high, with the Average True Range (ATR) at 0.152, indicating significant price fluctuations. Other indicators such as the Rate of Change (ROC) at -29.923 and Bull/Bear Power (13) at -0.385 reinforce the selling pressure.
Overall, the technical outlook for THETA Network coin suggests a strong sell sentiment. Investors should be cautious, considering the high volatility and the prevailing bearish trend, while monitoring any potential reversals indicated by short-term buy signals like the Stochastic RSI.$THETA #THETA/USDT