Theta did very well over the last few days, moving beyond $3 and managing to retain that progress as it inches closer to the $4 level. It remains to be seen how much farther it will go, but investors are hoping for the crypto token to finally make a recovery after a tough year so far.

How Theta Is Doing

Theta moved down slightly over the last 24 hours, falling to $3.77 (THETA/USD) with a drop of 0.94% in that period. Theta has a trade volume of $509,909,366.03 for the last 24-hour period, which is a jump of 15.48%.

The Theta rate has climbed over the last four days, despite some halting here and there, moving from $3.13 to $3.77 in that time. We can attribute the climb primarily to Bitcoin (BTC), which has similarly gained over the last few days. Bitcoin climbed from $41,926 (BTC/USD) on the 23^rd to today’s current price of $4 7,396. Its gains have happened over a longer period of time, but the upward movement is gradual, like Theta’s is.

It appears that the bullish movement of the wider cryptocurrency market is helping to pull Theta up right now, especially since Theta can’t seem to find much momentum of its own this year.

Where Might Theta Be Headed?

Theta will likely continue to rely on Bitcoin to keep up its movement, so as long as Bitcoin and the wider crypto market are doing well, Theta should manage okay too. Keep an eye on what Bitcoin in particular is up to to get an idea of where Theta could be headed.

We think it is very likely that Theta will pass $4 over the weekend, but whether that will happen will hang heavily on how well the crypto market is doing overall. Theta is at risk to fall back down to $3 and below that level, especially if the market takes a hit, so look out for that as well.