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Theta (THETA/USD) Takes a Pause: Does it Have More Power to the Upside?

Theta (THETA) Is Erratic as Investor Interest Increases

Posted Wednesday, November 2, 2022 by
Timothy St. John • 2 min read

Cryptocurrency Theta (THETA) is starting to pick up steam after a punishing couple of weeks. We saw Theta fall below $1.00 (THETA/USD) and have difficulty picking up any traction with investors. That seems to be changing now, even though the coin is down for the day.


Is Theta Coming Back to Life?

This morning, cryptocurrency token Theta network fell 1.27% to a price of $1.16. That is considerably better than where it has been recently, and this marks the 9th consecutive day above $1.05 for the coin.

Theta began a bullish trend on October 21st, gaining back some of what it had just lost a few days earlier. The coin began the 21st at $0.96 in a critical state, with its trade volume dropping and analysts calling the coin all but dead for the moment.

It picked up from there, though, and slowly worked its way upwards day after day. Before the end of the month, Theta had achieved a price of $1.24. That was the highest the coin had climbed since late August, and this price point marked a renewed interest in Theta. It finally looked like the coin was regaining its health.

The trade volume for the Theta network is healthy as well, up nearly 50% today and with $47.5 million in trades over the last 24 hours.

Is It Too Late to Invest?

Theta may have peaked already with its $1.24 price on October 29th. It certainly looked that way initially as it fell over the next few days to a low of $1.14. But then the coin climbed back to $1.23 just days later. While it has not retained that rate through today, there is a chance that it can climb back up again very soon.

Theta investors should note that this coin is erratic and experiencing high trade volumes and could be ripe for another price increase soon. However, the volley of activity could end with an abrupt loss of consumer interest over the next few days as well, possibly bringing Theta down as low as $1.10 before it levels out.

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