What Next After the Impressive 45% Rally?


The Theta price has rebounded as investors rush to buy last week's dip. THETA is trading at $ 10.57, 45% above last week's low of $ 7.305. According to CoinMarketCap, the currency is worth more than $ 10.55 billion, making it the 16th largest digital currency in the world.

What happened: After weeks of unstoppable bull run, Theta found major resistance at $ 16.00 almost two weeks ago. It then crashed 54% as the router resumed in cryptocurrencies. That decline came after Coinbase's direct listing when more investors sold the news. In fact, other digital currencies like Bitcoin and Ethereum also crashed during this period.

Theta price is rising this week as investors return to some of the hottest currencies from the previous week. In fact, currencies like Uniswap, PancakeSwap, Solana, and Ripple have risen significantly in the past 24 hours. However, the main determinant of the currency this week will be the Fed's decision and how the market will react to it. A Hawk Fed will push theta down while a reticent Fed will push it up. So can this dynamic continue?

Theta price prediction

The four-hour chart shows that the theta price is up more than 45% from its lowest level last week. It has also moved above the key support at $ 8.13 and the 14-day and 25-day moving averages. It is approaching the key resistance level at $ 11.27, which was the lowest level in the first week of April.

So I think this uptrend could continue as more traders buy the dips. This could cause the next resistance to rise at $ 12, which is about 12% above current levels. However, a further drop below $ 8.13 shouldn't be ruled out.

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Theta diagram

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