Theta Network Price Prediction 2021 – Will THETA Hit $14.4 Soon?

Theta Network Price Prediction 2021 - Will THETA Hit $20 Soon?
  • Bullish THETA price prediction ranges from $6.6 to $13.4.
  • THETA price might also reach $14.4 soon.
  • THETA bearish market price prediction for 2021 is $3.57.

In Theta Network (THETA) price prediction 2021, we use statistics, price patterns, ADX, and much other information about THETA to analyze the future movement of the cryptocurrency

THETA is a blockchain based network purpose developed for video streaming. Moreover, launched in March 2019, the Theta mainnet works as a decentralized network in which users distribute the bandwidth and computing resources on a peer-to-peer (P2P) basis. 

According to CoinGecko, the THETA price is trading at $5.91 with a 24-hour trading volume of $312,681,232, at the time of writing. However, THETA has decreased by 3.8% in the last 24 hours.

Moreover, THETA has a circulating supply of 1.00B THETA. Currently, THETA trades in cryptocurrency exchanges such as Binance, Huobi Global, OKEx, FTX, and Upbit. 

Theta Network (THETA) Price Prediction 2021

Theta Network (THETA) holds the 20th position on CoinGecko right now. THETA coin price prediction 2021 explained below with a daily time frame.

THETA/USDT Price Chart Daily Time Frame (Source: TradingView)

The descending channel trend is the price action that occurs between the upward and downward trendlines. In addition, lower highs and lows constitute this price pattern.

In the daily time frame chart, it is possible for the THETA to reach $13.4 if the bull trend continues. Orelse, if the price of the THETA breaks the resistance level of $11.02, it will fall to the support level at $5.36. So, the trend of the THETA is based on the breakout.

THETA Support and Resistance Level

The below chart shows the support and resistance level of THETA.

THETA/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frame, it is clear the following are the resistance and support level of THETA.

  • Resistance Level 1 – $6.6
  • Resistance Level 2 – $10.15
  • Resistance Level 3 – $14.4
  • Support Level 1 – $3.57
  • Support Level 2 – $2.58
  • Support Level 3 – $1.62

The charts show that THETA has performed a bullish trend over the past month. If this trend continues, THETA might run along with the bulls overtaking its resistance level at $14.4.

Conversely, if the investors turn against the crypto, the price of THETA might plummet to almost $3.57, a bearish signal.

THETA Average Directional Index (ADX)

Now let’s look at the average directional index (ADX) of THETA. Generally, the Average Direction Index (ADX) helps traders determine the strength of a trend, rather than its actual direction. It can be used to determine whether the market is changing or a new trend is starting. It is associated with the Directional Movement Index (DMI) and basically includes the ADX line. 

The range of the oscillator is from 0 to 100. A high value indicates a strong trend, and a low value indicates a weak trend. It is often combined with directional indicators. 

THETA/USDT ADX(Source: TradingView)

The above chart shows the ADX of THETA stays above the range of 19.38, so it indicates a weak trend.

Conclusion

The THETA is one of the cryptos that keeps its ground against the bearish market. Furthermore, our long-term THETA price prediction 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $15.72 this year. However, this will only happen if it breaks many past psychological resistances.

Furthermore, with the ongoing developments and upgrades within the THETA ecosystem, it could experience a great future ahead in 2021. It may reach $13.4 soon and it might even reach high heights, however reaching $14.40, if investors have planned that THETA is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.