THETA Technical Analysis: Buyers Go Against The Formidable Trendline

THETA coin price hints at the long coming resistance trendline breakout with the sudden surge in buying pressure in the overall crypto market. Key technical points: The THETA coin approaches the resistance trendline with a 20% jump last day The MACD indicator shows a bullish crossover The 24-hour trading volume in the Theta Network’s token is $404 Million, indicating a 36% rise. Past Performance of THETA THETA coin price managed to halt the rejection from the 50-day EMA at $2.5, with long-tail formations indicating the bulls actively hoarding the dip. The 20% jump follows the morning star pattern, and the price approaches the resistance trendline. However, the bulls face the same psychological barrier at the 50-day EMA. Source-Tradingview THETA Technical Analysis The THETA coin price shows a boom in buying pressure, with the double bottom breakout increasing the chances of the trendline breakout. Buyers can observe the rally approach the $5 mark if the prices outperform the sellers. The crucial daily EMAs in the altcoin price chart show a bearish alignment with the 50-day EMA providing a dynamic barrier along with the resistance trendline. However, the breakout of the 50-day EMA can result in a price jump to the 200-day EMA. The MACD indicator shows the fast and slow lines reverse in the negative territory to give a bullish crossover. However, the lines must enter the positive territory with a bullish growth in histograms to p...