Throughout the weekend, the Theta Network (THETA) cryptocurrency stayed mostly stable, retaining its gains it made just before the weekend started. Then late Sunday night, Theta started to plummet, and this morning finds the coin down 6.66% at $1.20 (THETA/USD).

Did Theta Lose Its Progress?

This is one crypto coin that has really struggled throughout 2022, and more recently it has had difficulty in keeping its head above the $1.00 level. We saw signs of improvement over the last couple of weeks, with Theta climbing from $1.12 to $1.32 late last week. That increase of 17% gave investors hope, causing trade volume to jump from $60 million to $70 million for each day of trading.

That climb to $1.32 was probably never going to last, and today’s $1.20 rate is evidence of that. However, a lot of the gains are still there, with Theta well above its low point from last week.

Which Way Now?

Theta is at an interesting crossroads right now. The recent bullish trend could help renew some more interest in it and keep investors coming back to the column for hopes that they can push it even higher. However, because of Theta’s struggles throughout the year, most investors may only be willing to invest at a low point and then quickly pull out their coins at the peak of the surge.

It looks like investors are holding back at the moment, with trade volume down 3.42% over the last 24 hours. That brings the 24-hour trade volume to $42.8 million, so there is still plenty of interest in the coin, but it is having trouble picking up new investors right now.

After today, once investors see how the Theta will handle the new week, they may start making their decisions on Theta, and we could see a lot more action with this coin.

The overall market is down right now, but that could turn around quickly, and if it does, we could easily see some movement from Theta.