THETA price analysis: THETA in bearish grip, breaks below $5.2

Today’s THETA price analysis shows that THETA is in a downward trend. The price broke below $5.5 and the THETA/USD pair is trading at $6.0 at the time of writing, while prices are down to $6.2 on the day. If the downtrend continues, THETA could soon test the available support again at $5.2, which was actually yesterday’s support, followed by the strong support at $5.1.

The bears have maintained their momentum for the past three days and the price has dropped significantly during this time. Chances of recovery are slim, but there has been some bullish activity of late; in general, the environment for bears seems more likely.

The THETA 1-day price analysis is bearish as the price has fallen to the 5.3 level since the beginning of the day. This has a negative impact on the overall value of the THETA/USD pair. Volatility is also increasing, which is a negative sign of the future of the cryptocurrency at the moment, and the moving average (MA) is $6.4 above the price level.

Bollinger Bands, a key factor in showing variability, are also widening, showing increasing variability, with the upper band at $8.3 and the lower band at $5.5. The average value of Bollinger Bands is $6.9 above the price level, which is an additional indication of a bearish trend. The Relative Strength Index (RSI) is in the lower neutral range with the index at 44.8.

4 hours THETA price analysis shows the bulls tried to reverse the bearish momentum by leaving the support fund at $5.1 and seem to be succeeding. Although the price started down at the beginning of the day and continued to fall for several hours, the gains eventually came to the rescue and offered enough support to stop further declines, such as the last green candle on the hourly chart.

The technical indicators chart for THETA price analysis is also an absolute indication of bearish momentum, as 16 technical indicators are showing a sell signal out of 26 total indicators, and 10 indicators are neutral, leaving no indicators with a buy signal.

The moving averages are also on the selling side as 14 moving averages are showing sell signal, and one moving average is neutral, again leaving zero to show a buy signal. The oscillators, on the other hand, are mostly neutral but clearly indicating their inclination towards the selling side as two oscillators are on the selling side and none on the buying side, whereas nine oscillators are standing neutral.

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