It’s one other dangerous week for Theta, because the cryptocurrency falls below the $2 degree to $1.86 (THETA/USD). That’s a drop of 1.97% over the past 24 hours, because the crypto rose barely throughout Tuesday’s early hours. Total, Theta is trending down, shifting at a reasonably regular decline over the previous month.
How Theta Is Performing
Theta’s commerce quantity is up 93%, bringing it to $403 million. That would point out a big selloff, however we’re additionally seeing lots of people purchase up this crypto at its traditionally low price beneath the $2 line.
The final time Theta frolicked at this degree was greater than two years in the past, again in January of 2021. Since then, Theta has stayed between $3 and $4 for more often than not. This crypto is definitely on onerous instances, however the query is how lengthy will it final?
Bitcoin (BTC) is down 4.29% for the day, with an 18% drop over the past 7 days. That is driving a whole lot of the crypto market down, together with Ethereum (ETH), with a 0.90% drop and XRP (XRP) with a 2.18% drop.
The place Is This Crypto Headed?
Theta could proceed to say no, staying bearish for some time, however we don’t suppose that’s doubtless. The place it heads might be principally as much as the market and the economic system. In the event that they get better, then Theta might be lifted by the development. Nonetheless, Theta just isn’t liable to remain beneath $2 for lengthy, traditionally talking. It would doubtless promote nicely at this low price, and that might imply a promoting frenzy that helps to spice up the value very quickly.
Count on this main drop to create a turnaround for Theta as curiosity will increase within the crypto token.
Theta was staggering below a poor economic system final week as nicely, below the $2.50 level and already making historical past for the Theta price. It’s onerous to say how a lot decrease Theta will go earlier than it turns round, however we count on a worth shift anytime now.