Theta Network (THETA) Technical Analysis with Latest Data from Coingecko

General Information

• Current price: $1.20

• 24h high: $1.21

• 24h Low: $1.15

• 24h price increase: +2.47%

• All-time high (ATH): $15.72 (-92.37% from ATH)

• 24h trading volume: $18.62 million USD

• Market capitalization: $1.19 billion USD

• Circulating supply: 1,000,000,000 THETA (max total supply is 1,000,000,000 THETA)

Apply 14 Combined Indicators

1. Identify the Main Trend

• MA (Moving Average): Use the 50-day and 200-day MA lines. THETA is currently still below the 200-day MA but has crossed above the 50-day MA, indicating a positive short-term trend.

• EMA (Exponential Moving Average): The 20-day EMA is supporting the price, indicating that the short-term bullish momentum is strong.

2. Identify Overbought/Oversold Zones

• RSI (Relative Strength Index): The current RSI is around 58, showing that THETA still has room to increase and has not entered the overbought zone.

• Stochastic Oscillator: Stochastic is near 65, showing bullish signal but needs further monitoring to avoid falling into overbought zone.

3. Volume Analysis

• Volume: Trading volume over the past 24 hours has been quite stable, confirming support for the current uptrend.

• MACD (Moving Average Convergence Divergence): The MACD line is crossing above the signal line, creating a buy signal.

4. Identify Support and Resistance Levels

• Fibonacci Retracement: Identify Fibonacci levels from the recent high ($15.72) to the recent low ($1.15). The 23.6% Fibonacci level around $1.25 could be immediate resistance.

• Bollinger Bands: THETA price is currently moving within the middle range of the Bollinger Bands, with the upper band at $1.22 - $1.25, indicating further upside potential.

5. Find Entry/Exit Points

• Parabolic SAR: The current SAR point is below the price, giving a buy signal.

• CCI (Commodity Channel Index): CCI is at 90, indicating a strong uptrend but needs to be monitored to avoid buying at the highest price.

Order Entry Strategy

• Entry: $1.18 - $1.20 (near 20-day EMA support and psychological resistance $1.20).

• Take Profit (TP): $1.25 - $1.30 (near the upper border of Bollinger Bands and the 23.6% Fibonacci level).

• Stop Loss (SL): $1.15 (below the 24-hour low and near the psychological support level of $1.15).

Probability of Achieving Goal

• TP Probability: 68% (based on stable trading volume, MA trend, and momentum indicators).

• SL Avoidance Probability: 75% (SL is set at strong support level and based on recent price movement).

Conclude

Theta Network (THETA) is currently in an uptrend with many positive signals from technical indicators. With an entry near $1.20, setting a profit target at $1.25 - $1.30 and a stop loss below $1.15 is a reasonable strategy to optimize profits in the short term. However, it is necessary to continue monitoring the market and technical indicators to adjust the strategy if necessary.