In less than three weeks, the THETA price registered a 90% gain hitting the $4.3 mark on February 11th. Moreover, the buyers knocked out the highly influential resistance trendline on February 10th, indicating the bull’s plans to initiate a recovery. The current retest phase should validate the sustainability of a bullish opportunity.
Key technical element to ponder
The THETA buyers flipped the dynamic resistance of 50-day EMA to possible support
The intraday trading volume in the Theta Network coin is $209 Million, indicating a 23.2% loss.
Source- Tradingview
A descending trendline was leading the recent correction phase in THETA price, which marked a new lower low of $2.2 on January 24th. Amid the widespread recovery in the crypto market, altcoin bounced back from the bottom support and breached the resistance trendline with a long bullish candle.
However, the coin price pulled back to retest this breakout level and check for sufficient demand. A morning candle pattern at the new
We współpracy z: https://coingape.com/markets/theta-network-price-analysis-reset-to-descending-trendline-rings-recovery-bell-in-theta/
