Bitcoin’s dump below $45k has triggered widespread losses, with THETA vulnerable to a potential downtrend to lows of $3.63
THETA coin has declined more than 12% in the past 24 hours to see its value touch lows of $5.47 as the broader crypto market begins a new week with losses across the board.
At the time of writing, THETA is trading around $5.54, with the downtrend pushing the cryptocurrency to seven-day losses of 16%, as shown by data from CoinGecko.
Across the crypto market, Bitcoin (BTC) price has dropped 7.6% over the past 24 hours to break below $45,000, while Ethereum (ETH) is trading around $3,112 after declining by about 9.4%.
Among the top ten cryptocurrencies by market cap, Solana (SOL), Cardano (ADA), এবং XRP are all seeing double-digit losses as bears push the total crypto market cap down by 6.7% to currently sit around $2.08 trillion.
THETA price outlook
Technical indicators on the daily chart suggest that THETA looks certain to continue with a negative trend given the bearish pennant formation seen on the daily chart.
The daily RSI is trending with a negative outlook below 50, while the daily MACD is increasing within the negative zone after a bearish crossover.
Looking at the chart, we see the price of THETA has broken below the 50-day moving average. The move has seen it lose the $6.14 anchor, with the THETA/USD pair retesting and breaching horizontal support at $5.59.
If the downward trajectory holds, Theta price could nosedive past the next demand zone around $4.97 (0.236 Fib level). In this case, bulls risk suffering losses to the next demand zone around $3.63 to bring losses from the $5.59 anchor to around 35%.
THETA/USD daily chart. Source: TradingView
On the upside, bulls could get a swift rebound if they use the widespread declines as an opportunity to buy the dip.
Such a scenario would see Theta price look to test resistance around $5.89 (0.382 Fib level), with sustained upward momentum likely to push prices above the $6 level towards the 0.5 Fib level ($6.64). From here buyers can target the 50 SMA ($6.90).
- 000
- 7
- 9
- ADA
- সব
- বিশ্লেষণ
- কাছাকাছি
- অভদ্র
- ভালুক
- তক্তা
- BTC
- ষাঁড়
- কেনা
- মুদ্রা
- CoinGecko
- অবিরত
- ক্রিপ্টো
- ক্রিপ্টো মার্কেট
- ক্রিপ্টোকারেন্সি
- cryptocurrency
- উপাত্ত
- চাহিদা
- বাদ
- ETH
- এখানে
- HTTPS দ্বারা
- IT
- উচ্চতা
- এমএসিডি
- বাজার
- বাজার টুপি
- ভরবেগ
- পদক্ষেপ
- সুযোগ
- চেহারা
- মূল্য
- মূল্য বিশ্লেষণ
- ঝুঁকি
- সোলানা
- সমর্থন
- স্যুইফ্ট
- লক্ষ্য
- পরীক্ষা
- থীটা
- থেইটা দাম
- সময়
- শীর্ষ
- স্পর্শ
- লেনদেন
- trending
- মূল্য
- জেয়
- সপ্তাহান্তিক কাল
- মধ্যে
- লেখা