Although the cryptocurrency Theta Community (THETA) is on the rise, it might not look like it. The Theta fee is at $1.17 (THETA/USD) right now and up simply 0.18% over the past 24 hours. That’s an enchancment in comparison with the place it was throughout a current low level of $1.11 on Friday. Since then, we’ve got seen Theta enhance, however not by a lot, and it’s nonetheless nicely beneath the place traders had been hoping it will be after final month’s wholesome exhibiting.
THETA/USD
A Powerful Few Days
At any time when Theta goes down near the $1 degree, traders begin getting antsy. The marvel if they need to dump and if this will likely be their final likelihood to see any form of return on their funding earlier than Theta bottoms out. Whereas final month proved to be one for Theta, with a excessive of $1.68, the speed has largely been low for September to this point.
Theta’s report for this month has been largely beneath the $1.20 mark, which isn’t good. The concern is that this sort of efficiency will proceed and Theta won’t be able to earn again cash for many who invested in it throughout August’s wholesome crypto market days.
Theta did spike yesterday as much as $1.20, however that was very transient, giving traders some false hope and making them marvel if any form of positive aspects could be sustained for this cryptocurrency proper now.
On the Vivid Facet
There’s excellent news for Theta, although. Not solely is that this coin on the rise as soon as extra, with an total refined bullish pattern for the previous few days, however commerce quantity is up as nicely. Over the past 24 hours, Theta’s commerce quantity has been somewhat over $27 million, which is a rise of twenty-two% for that point.
As a result of Theta fell so low lately, it may very well be due for a optimistic pattern, and the current spike is a few indication of that. Traders ought to look carefully at this coin over the following few days for indicators of one other spike, in the event that they invested beneath the $1.20 degree. They could get an opportunity to make a short-term revenue. We don’t anticipate to see Theta fall beneath $1.00 anytime quickly, because it has confirmed to be resilient about staying above that degree.
