THETA Technical Analysis: Consolidation Range Survives Bear Attack

Taking a bearish reversal within the sideways range, THETA prices survive the bear attack and avoid a downfall below the range. Key technical points: The market price has increased 13.18% over the past 24 hours. The price action prepares the morning star pattern formation. The 24-hour trading volume of Theta Network is $181 Million, indicating a hike of 75%. Past Performance of THETA The sideways trend in THETA prices leading to a consolidation range between the $1 and $1.45 mark survives the bear cycle. The 25% fall within the range sustains above the psychological mark of $1 and avoids a bearish breakout to further fuel the downtrend. Moreover, the lower price rejection from the $1 mark restarts the bull cycle and lowers the possibility of downtrend continuation. Source- Tradingview THETA Technical Analysis The bullish reversal in THETA prices starts forming a morning star pattern in the sideways range. Finally, the prices skyrocket and strive to reach the overhead resistance at $1.45. Moreover, the opportunity to dip has influenced the bullish reversal. The MACD indicator shows the fast and slow lines actively trying to avoid a bearish crossover and move minimally upwards to sustain the bullish spread. Therefore, a sudden increase in bullish histograms will mark a buying signal and increase the possibility of a bullish breakout. The RSI indicator shows a resurgence of momentum in the underlying bullishness as the RSI slope ...