As the Market Stalls, Theta (THETA) Tests the $5 Level
Theta is having trouble getting any traction above the $5 level recently, struggling at $4.78 (THETA/USD) today. That’s a drop of 2.15, slightly higher than Bitcoin (BTC) and in the opposite direction of Ethereum (ETH), which actually gained .40% today.
Theta has not pushed its head up above the $5 level since Wednesday, and we expect this crypto will turn around come along with the rest of the market very soon. In recent weeks, Theta has really had a difficult time rising above that $5 mark.
Crypto Market Prediction
As the new year gets into full swing, analysts are expecting cryptocurrency rates to increase. Bitcoin shot way up at the beginning of last year, riding a wave of momentum that stretched back a few months. It recently had an all-time high, and it may be able to use some of the remaining momentum from that to push forward early this year.
Theta likewise shot up at the start of last year, ending the year at $1.97 and then doubling that price in less than two months into 2021. The crypto continued to skyrocket, achieving its all-time high of $14.28 in April.
Will Theta have a similar performance this year? That’s going to depend on a few different factors, including economic stability, continued interest in cryptocurrency, and Bitcoin’s price. These factors will drive Theta’s rates early this year much more than anything that Theta’s developers are doing or any factors relating to Theta’s functionality and liquidity.
Potential investors should also consider that early in the year is when a lot of people start investing in cryptocurrency. This is when many investors are looking to build their portfolio and try new financial ventures. The Theta price has the potential to move past $6 early this year if the crypto market gets a little momentum going. Watch this stagnant current level carefully as it could be prepared to go bullish at any moment.
Since Thursday, Theta has had difficulty getting much movement going one way or the other. As with most of the cryptocurrency market, its price has not moved very much in those few days, which could give investors a chance to jump in and start trading while the price holds and feels safe to them.
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