Theta Manages to Hold Its Own, but for How Much Longer?
Timothy St. John • 2 min read
Even though the Theta Network (THETA) crypto has had its ups and downs this year, mostly struggling to keep any kind of gain, it has held strong recently. There haven’t been any significant gains, but it also hasn’t fallen below the $1 level like investors feared it might.
Theta Remains Steady
Today, Theta is up 1.87% with a rate of $1.39 (THETA/USD). This cryptocurrency is showing signs of strength by weathering a market storm with a fairly steady rate.
The current trade volume for Theta is down 11% to a little over $63 million, which is still healthy for this crypto. It’s holding on to its #39 position in the crypto rankings.
Theta was down close to the $1.20 level less than a week ago, and it has surged upward since then. The rate went as high as $1.53 briefly, which is amazing. That was the first time all month that Theta passed $1.50, and it is an indication of strength and the potential for growth in the near future.
Even though Theta fell from that high point, it has managed to stay above the $1.30 level, which is yet another indicator that it is doing well and staying strong. We aren’t seeing the kinds of gains we saw last year with the crypto, or its $3-$4 level from most of 2021, but the Theta Network is still holding its own fairly well in this tough economic environment.
What’s the Future Like for Theta?
Many of the signs we have mentioned already point to some upcoming gains for Theta. If there is an economic uptick in the near future, and the crypto market shows more signs of life, then Theta could ride that in a big way. This is a crypto to watch closely at the moment, because there are some definite indicators that Theta could break out at any moment.
Since this token has been down so long on recent months, investors have been able to buy it up at allow price in hopes that it would turn around. That opportunity could be presenting itself very soon, which is why we advise keeping a watch on Theta right now. The bullish turn, if it does come, could be substantial but not necessarily long-lived.