Cryptocurrency market saw a dramatic ups and downs in its 2020 valuation journey with its coin prices rising and falling in the market. Theta coin price is no exception to this trend, it saw a major jump from its 52 week low to the high in mid-January, but with rising cryptocurrency enterprises such as Binance and Coinbase, the Theta coin price fell drastically, marking an all time low of $0.850. Afterward, Theta coin price charted an upward course, albeit with an initial inclination towards sideways movements, steadily rising past the $1.00 mark.

The Theta coin would need all the help it can get to amplify its price and take it to new levels. The Theta coin, a decentralized video streaming platform, is designed to make it cheaper and easier to share, watch, and analyze streaming videos all over the world. Being one of the largest cryptocurrencies in the market, the Theta coin price has to abide by certain rules, like a reversal in direction or trend formation, or even a minor dip in prices to denote bearish pastures and indicate the need for drastic measures.

The Theta coin price and crypto market benefited in the March rebound which was more of a need for the market after experiencing major slump besides which, the Theta coin price was exchanged for some $1.102 notes, only to have the price dragged back below $1.00 by the market’s gravity. Technical analysis on the Theta coin has suggested formation of a double bottom pattern, a signal indicative of the Theta coin creating a base and incrementally rising in the market. The price of Theta coin was seen creating a Doji candle pattern, suggesting a lack of direction, on a weekly time frame, tending towards a consolidation despite the emergence of positive signals like MACD crossover.

The And Theta coin price needs to be kept above the psychological level of $1.000 for it to climb to higher levels, and according to current trends, the bearish force might fail to defeat the bullish momentum of Theta coin, if the latter manages to hold up to the resistance levels. To avoid the risk of the bearish market prevailing over the theta coin, the support levels of $0.85 and $0.70 are the key for the market to turn in the bull’s favor. To summarize, Theta coin price needs to keep its head over the water by remaining above $1.00, as such a move should keep cryptocurrencies such as Theta in a state of flux and momentum.



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