Theta could solely be down 1.08% right this moment, nevertheless it’s persevering with a bearish pattern that doesn’t appear to be letting up. Yesterday, Theta reached a low for the month of $4.98 (THETA/USD). It got here up from there simply barely, rebounding to $5.28 for the day up to now.
How Theta Has Carried out in September
Theta fell under the $6 resistance line on the nineteenth and has continued to remain there, off to a tough begin for the week. There’s some likelihood it might bounce again by the weekend, and this might be a great time to purchase low and promote excessive within the close to future. Theta has not seen a degree this low in about two months, so many analysts expect it to come back again somewhat bit and see the bulls seize it for some time someday quickly.
On the sixth of this month, Theta reached an impressive high of $9.39, which mirrored its degree from all the way in which again in June. This was truly the primary time since then that it moved previous the $8 degree, so it’s unlikely that we’ll see Theta get again to that time anytime quickly.
Is Theta Value Investing in Proper Now?
Trying on the commerce quantity for this token, it’s apparent that Theta is on the decline for now. Commerce quantity for Theta has dropped over 19% within the final 24 hours, but it’s nonetheless seeing a commerce quantity of greater than $350 million.
A pair weeks in the past, Theta began serving to ONE Championship launch their NFT market. Many analysts anticipated Theta to carry out strongly following that announcement, however that has not truly been the case. Whereas NFTS have taken off not too long ago within the digital asset market, having a huge effect on cryptocurrency motion, Theta dipping it toes into that pool has not managed to maneuver the marker on this token’s value very a lot.
One other value spike for Theta might come within the subsequent week or so, however it will be thought of aberrant conduct for this token to spike again up previous the $9 resistance degree once more so quickly.