THETA Technical Analysis: Bears Prep Pushdown Under $2

THETA prices show an ongoing downtrend under a descending triangle pattern, with increasing bearish influence. Will the downtrend surpass $2? Key technical points: Market price increased 6.09% last day. The price action shows a descending triangle pattern. The 24-hour trading volume of Theta Network is $241 Million, reflecting a rise of 64%. Past Performance of THETA THETA prices show an ongoing short–term correction rally under the influence of a mildly bearish resistance trendline providing two bearish rejections. The bearish turnaround accounts for deflation of 35% last month and aims to knock down the support trendline. Source-Tradingview THETA Technical Analysis THETA prices show a bullish reversal from the descending support trendline with an engulfing candle of 12.58%. However, the trading volume fails to provide a significant rise to support the reversal resulting in the bearish candle with higher price rejection from the resistance trendline. The bullish reversal strives to approach the midline of the Bollinger bands but struggles at the resistance trendline. Moreover, the indicator’s midline act as dynamic resistance to the market price. A potential bullish crossover among the MACD signal Line, bolstering buyers for an upside breakout from descending trendline. The daily RSI slope barely escaped from the oversold region on may x and reverted back to the higher level. A steady rally towards the neutral line indicates ...