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.
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.
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.