THETA Regains the Lost Momentum; Trades Close to $0.50

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THETA was seen trading with a positive move against the US Dollar and is currently trading at $0.492, slightly below the major resistance marked at $0.50. The token has definitely drawn a positive crossover in comparison to the previous week’s bearish movement around $0.40 after the steep correction that happened at the onset of the week. After waiving off the gains in the previous week, THETA token regains the lost momentum.

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THETA/USD Chart By TradingView

THETA token was trading closely to breaching the immediate resistance at $0.49 and regained the lost support from MA50 & MA200 on 24-hour chart at the press time. The trend after having breached the lower Bollinger Band is now moving away from the extremities as well.

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In this regard, the MACD line approaches towards crossing above the signal line for a bullish crossover on the daily chart and the RSI of Theta token strengthens from the utter bottom and is currently lying at 57.86, with a moderate inclination towards the overbought region.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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