Tuesday, December 6, 2022
    HomeMarketIs Theta Network token now bullish after double-digit gains?

    Is Theta Network token now bullish after double-digit gains?


    1. Theta community has been touted as a next-generation video streaming platform 

    2. The community faces competitors from different networks

    3. Theta token has pumped 20% however stays in consolidation mode

    Theta Community token THETA/USD has returned greater than 20% up to now one week. The beneficial properties within the final 24 hours had been 2.46% as of press time. The beneficial properties contemplate that THETA has been comparatively subdued regardless of different cryptocurrencies surging. 

    Theta Community guarantees to revolutionize video streaming by way of the blockchain community. By turning into the next-generation video blockchain community, Theta will rival YouTube. That was evident mid-last yr when the community noticed exponential progress.

    This yr, nevertheless, Theta has been beset with challenges. It’s but to dwell to the hype of being a YouTube rival. The booming metaverse purposes with nearly all the pieces in digital house have additionally been a menace. Protocols equivalent to Axie Infinity have been most well-liked by avid gamers. Nevertheless, as soon as Theta proves its course, it’s certain to rise. Current beneficial properties attest to expectations of a worth pump. However is the token bullish now?

    Theta trapped in a consolidation zone regardless of newest beneficial properties

    Supply – TradingView

    On the day by day chart technical outlook, Theta token has been very steady above $1.06 help. The token has held to this key degree since Could. It suggests sellers’ exhaustion and the potential entry of patrons. Nonetheless, the $1.45 resistance has at all times taken the worth again for each surge. That makes the consolidation zone a degree to look at.

    Transferring averages and MACD indicators present a bullish momentum for THETA. Our evaluation suggests {that a} break above $1.45 will verify bullish momentum. Already, THETA has proven the chance of a breakout. Buyers ought to watch the token over the subsequent few days.


    Though Theta token is within the consolidation zone, a possible breakout is on the playing cards. The token has been steady since Could, and a breakout would appeal to extra purchaser curiosity.

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