Theta Price: The crypto market witnessed a renewed recovery force as the Bitcoin price rebounded from the $50600 support last weekend. The positive turnaround propelled several altcoins back to recovery sentiment including Theta. The coin price surged from $1.17 to $1.66 within three days to register 42% growth, the recent price breached the resistance trendline of inverted head and shoulder pattern indicating the asset is poised for further growth.
Also Read: Crypto Market Analysis As Metaverse Tokens Regain Momentum: THETA, MANA, APE
Is Theta Price Heading to $2?
Theta, the native token of a Layer 1 blockchain entered an aggressive recovery mode earlier this month when the price rebounded from $0.93. This bullish recovery surged the coin price by 80% within three weeks to currently trade at $1.67.
The increasing Trading Volume and surge in futures open interest suggest robust and sustainable growth in the Theta price. Data from Coinglass, a prominent crypto derivatives data provider
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