THETA Loses Intraday Traction; Tests Supports Around MA50

THETA—a decentralized streaming network, is an open-source protocol that will authorize Decentralized apps to be built on top of the platform to amplify the use case, which supports sports, entertainment, and a lot more. THETA drops from the 3-month high after the intraday market crash against the US Dollar and is currently trading at $0.403.

With the negative market sentiment and crash of the largest cryptocurrency by market capitalization—Bitcoin, the entire market is seen experiencing a daily rough patch today.

THETA Price News
THETA/USD Chart By TradingView

THETA, at the press time, was seen trading at $0.403 after a long bearish candlewick drawn from $0.55 due to loss of steady market traction. It was towards the end of the previous month when THETA/USD was seen breaching the upper Bollinger Band and is now around the lower band, testing 50-day MA supports at $0.360. However, the coin holds complete support from the 200-day daily MA at $0.21.

But due to negative market sentiment, the MACD chart holds a bearish crossover, and, in this regard, the signal line is seen crossing above the MACD line. The RSI is at 46.36, with no trading extremities hit at present.

Daniel Garza

Daniel Garza is well-known for his writing skills and works as a lead content writer in our team. He also has a deep interest in cryptocurrency funds and guides people on how to deal with a cryptocurrency exchange.

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