Will Theta (THETA) Get out of Its Rut Anytime Soon?
Even though the cryptocurrency Theta Network (THETA) is on the rise, it may not seem like it. The Theta rate is at $1.17 (THETA/USD) today and up just 0.18% over the last 24 hours. That’s an improvement compared to where it was during a recent low point of $1.11 on Friday. Since then, we have seen Theta improve, but not by much, and it is still well below where investors were hoping it would be after last month’s healthy showing.
A Tough Few Days
Whenever Theta goes down close to the $1 level, investors start getting antsy. The wonder if they should sell off and if this will be their last chance to see any kind of return on their investment before Theta bottoms out. While last month proved to be a good one for Theta, with a high of $1.68, the rate has mostly been low for September so far.
Theta’s record for this month has been mostly under the $1.20 mark, which is not good. The worry is that this kind of performance will continue and Theta will not be able to earn back money for those who invested in it during August’s healthy crypto market days.
Theta did spike yesterday up to $1.20, but that was very brief, giving investors some false hope and making them wonder if any kind of gains can be sustained for this cryptocurrency right now.
On the Bright Side
There is good news for Theta, though. Not only is this coin on the rise once more, with an overall subtle bullish trend for the last few days, but trade volume is up as well. Over the last 24 hours, Theta’s trade volume has been a little over $27 million, which is an increase of 22% for that time.
Because Theta fell so low recently, it could be due for a positive trend, and the recent spike is some indication of that. Investors should look closely at this coin over the next few days for signs of another spike, if they invested below the $1.20 level. They may get a chance to make a short-term profit. We don’t expect to see Theta fall below $1.00 anytime soon, as it has proven to be resilient about staying above that level.
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