The probability of THETA reaching $3.80 again in the short term is around 15-20%

Comprehensive Analysis of Theta Network (THETA) by StocknAi Method

1. Market Overview and Data

• Current price: $1.14

• Market capitalization: $1.14 billion USD

• 24h trading volume: $15.22 million USD

• All-time high (ATH): $15.72 (down 92.77% from this level)

• All Time Low (ATL): $0.0404 (up 2714.14% from this level)

2. Technical Analysis

• Price Pattern: Theta Network has increased slightly in the last 24 hours, but remains in a long-term downtrend. Currently, technical indicators suggest that THETA may be in an accumulation phase. Indicators such as MACD show an upward cross above the signal line, a positive sign that suggests a potential short-term price increase.

• Technical indicators:

• RSI (Relative Strength Index): RSI is at neutral levels, showing no signs of overbought or oversold, which suggests that THETA could move in either direction in the short term.

• MACD (Moving Average Convergence Divergence): MACD is crossing above the signal line, a positive signal indicating the possibility of a short-term price increase.

3. Trading Volume Analysis

• Volume: Theta’s volume has increased slightly, but not enough to confirm a major breakout. This suggests that the market is still watching closely and may wait for more signals before making any major moves.

4. Analyze News and Market Sentiment

• Recent News: Theta Network has been gaining attention recently with developments such as the launch of Theta EdgeCloud, which provides decentralized cloud computing services. This could boost growth in the long term, but for now the market is still reflecting investor caution.

• Market sentiment: Despite the positive news about new development projects, market sentiment remains mixed. Many investors are waiting to see whether these developments can have a real impact on THETA price in the short term.

5. Probability of THETA Returning to Old High 3.8

• Highest Probability: Based on current market sentiment and technical analysis, the likelihood of THETA returning to $3.80 in the short term is quite low. The market needs to see a significant increase in trading volume and strong accumulation from large investors before such a strong recovery can be expected. Based on current data, the probability of THETA returning to $3.80 in the short term is around 15-20%, depending on broader market conditions and upcoming developments.

• Entry: Buy at current price around $1.10 - $1.14 if there is confirmation from positive technical indicators.

• Take Profit (TP): Set TP1 at $1.20 and TP2 at $1.30 if price crosses $1.20.

• Stop Loss (SL): Set SL at $1.05 to protect against downside risk.

Conclude

• Short-term strategy: Buy if THETA holds $1.10 and prepare for a short-term rally if technicals support a recovery.

• Long-term Strategy: Hold positions and monitor new developments on Theta EdgeCloud and other initiatives to adjust long-term investment strategy.

This strategy has about a 20% chance of success in reaching $3.80, with support from technical factors and market news. However, this depends on whether the market can maintain the upward momentum.