Theta Network

Resistance

Billion

Coin

<ul class="list-ic vertical"> 
 <li> 1 <a>The Theta Network coin’s price increased by 3.09% over the last week and by 5.53% over the last 24 hours.</a> </li> 
 <li> 2 <a>The price of the THETA coin is trading at $0.64057000 and the 52-week range is $0.57562000 – $1.29760000.</a> </li> 
</ul> 
Theta Network, a leading decentralized video platform, announced its new subchain collaboration with Replay, a Web3 video blockchain. This announcement boosted Theta’s price by more than 5% in the last intraday session and indicated a higher demand and value for THETA. Moreover, the Replay aim is to reward video engagement with instant payouts using its token RPLAY. Replay has built a Web3 video ecosystem that features NFT-gating, GameFi mechanics, and a tokenized community of over 50,000 monthly active users. 
Theta Network’s (THETA) open interest is $21.10 Million. As per Coinglass, another crypto analysis website, it rose by 48.76% in the previous session. The long versus short ratio for 24 hours is 0.9654. The total number of short positions added in the last 24 hours is $67.69 K against longs of $89.15 K. 
Theta Network crypto surged by 8.36% in market value and surged by 959.96% in trading volume in the last 24 hours, as per the coinmarketcap a crypto data analysis website. Its market value is $638,817,174, and its trading volume is $83,545,707. There are 1,000,000,000 THETA in circulation. 
According to THETA distribution, 30% was allocated to the private sale, 7.49% to the team, 1.23% to the advisors, 12.5% to the partners, 12.5% to the network seedings, and 36.28% to the lab reserves.&nbsp; 
Theta Network (THETA) has a fully diluted valuation (FDV) of $639,174,877. This is a hypothetical market cap, assuming all 1 Billion THETAs are circulating today. This is according to the crypto data and information website Coingecko. However, the actual FDV may take years to reach, depending on how the THETAs are distributed over time. 
The THETA has not performed well in the last month, decreasing by 1.34% and plummeting by 36.28% in the last six months. Theta Network (BITFINEX: THETA) has a positive year-to-date return of 12.76% and a negative one-year return of 42.79%. 
<h2 class="wp-block-heading" id="strong-theta-coin-price-technical-analysis-in-the-1-day-timeframe-strong">THETA Coin Price Technical Analysis in the 1-Day Timeframe</h2> 
THETA price was on a downtrend for a long time and followed a falling trendline on the charts. However, the recent partnership with Replay boosted the market value, volume, and price of THETA and made it break above the trendline that was tested several times before. 
At the time of writing, THETA’s price is trading at $0.64354000 and trying to stay above the resistance trendline. If more buyers enter the market, the price might surge further. 
On the other hand, <a href="https://www.thecoinrepublic.com/2023/09/19/theta-price-prediction-for-october-will-the-downfall-continue/">THETA price</a> could resume its downtrend and reach the nearest support levels at $0.50000000 and $0.40000000 if it fails to hold the current level and falls below the trendline. 
On the upside, THETA price could face the nearest resistance levels at $0.80000000 and $0.90000000 if it maintains the current level and rises above the trendline. 
<figure class="wp-block-image aligncenter size-large">
 <img decoding="async" loading="lazy" width="1024" height="594" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/THETA-Coin-Price-Technical-Analysis-in-the-1-Day-Timeframe-1024x594.webp" alt="THETA Coin Price Technical Analysis in the 1-Day Timeframe" class="wp-image-170530" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/THETA-Coin-Price-Technical-Analysis-in-the-1-Day-Timeframe-1024x594.webp 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/THETA-Coin-Price-Technical-Analysis-in-the-1-Day-Timeframe-300x174.webp 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/THETA-Coin-Price-Technical-Analysis-in-the-1-Day-Timeframe-768x445.webp 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/THETA-Coin-Price-Technical-Analysis-in-the-1-Day-Timeframe-750x435.webp 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/THETA-Coin-Price-Technical-Analysis-in-the-1-Day-Timeframe-1140x661.webp 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/THETA-Coin-Price-Technical-Analysis-in-the-1-Day-Timeframe.webp 1461w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 Source: THETA/BUSD.1D.BITFINEX by TradingView 
 </figcaption>
</figure> 
At the time of publishing, Theta Network (BITFINEX: THETA) is trading below the 50-day EMAs (exponential moving averages) and trading above the 20-day EMA, which are rejecting the THETA price trend.&nbsp; 
The MACD line at 0.0089 and the signal line at 0.0139 is below the zero line. Both lines crossed each other, showing that bull crossover is observed in the MACD oscillator, where the histogram started to broaden both lines’ widths. 
The current value of the RSI is 55.67 points, and the 14-day SMA is below the median line at 42.31 points, which indicates bullish sentiments as the RSI took support on the 14 SMA line and headed for the overbought zone in the market for the THETA and highlighting bullishness. 
<h3 class="wp-block-heading" id="strong-conclusion-strong">Conclusion</h3> 
THETA price highlights investors’ and traders’ bullish sentiments and perspectives regarding THETA in the daily time frame. Theta price action highlights a bullish view at the time of publishing as <a href="https://www.thecoinrepublic.com/2023/08/29/theta-network-price-prediction-will-theta-continue-to-decline/">THETA</a> broke the resisting trendline and tried to sustain. Moreover, the technical parameters of the Theta price suggest the continuation of the uptrend over the daily time frame chart. Major trustworthy indicators, MACD, RSI, and EMA, provide positive signals regarding the THETA price. 
<h4 class="wp-block-heading">Technical Levels</h4> 
<ul> 
 <li>Support levels: The nearest support levels are $0.50000000 and $0.40000000.</li> 
 <li>Resistance levels: The nearest resistance levels are $0.80000000 and $0.90000000.</li> 
</ul> 
<h4 class="wp-block-heading">Disclaimer</h4> 
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Theta Network: The Subchain Launch Of RPLAY Mints THETA Price?

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