THETA technical analysis displays a reversal rally challenging the 100-day SMA to continue the recovery phase. Should you hop onto this breakout possibility? After a remarkable downfall last week, THETA prices regain bullish momentum close to the psychological mark of $1.0. Additionally, the recovery rally challenges the 100-day SMA bringing a breakout entry opportunity for sideline buyers. So, should you consider betting on the bullish breakout? Key Points: The THETA price trend shows a bullish recovery of 10% over the last seven days. The 50 and 100-day SMAs maintain a bearish alignment to keep the bullish growth in check. With a market cap of $5.08 billion, the intraday trading volume of Theta Network has increased by 77% to reach $1.39 billion. Source – Tradingview THETA Technical Analysis The THETA prices fall by 28% in the previous two weeks, dropping close to the psychological mark of $1.0. However, buyers avoid a drop to the crucial support with a Morning Star pattern and restart a bullish recovery rally. The recovery rally regains 10% of market value within the last seven days and approaches the $1.30 mark. But, the higher price rejection near the 50 and 100-day SMA projects the possibility of a bearish turnaround. If the selling persists at $1.3 resistance, the sellers will likely revert the prices 9% lower and offset this week’s relief rally. The possible bearish reversal will rechallenge the $1.16 support, which is...
