THETA was buying and selling increased on Tuesday, as costs rebounded, transferring away from multi-year lows within the course of. HNT additionally rallied, climbing by as a lot as 20% earlier in right this moment’s session.
Theta Network (THETA)
THETA was one of the notable movers throughout right this moment’s session, as costs gained by almost 20% earlier within the day.
Following a low of $0.9688 to start out the week, THETA/USD rose to an intraday peak of $1.22 on Tuesday.
Today’s surge noticed THETA transfer away from yesterday’s backside, which is the bottom stage costs have been since December 2020.
As of writing, costs are actually again above $1.00, and are buying and selling barely above a key assist level of $1.14.
Should this ground start to stabilize, we may see bulls slowly re-enter the market, and progressively look to regain worth momentum.
For this to occur, the 14-day RSI should stay above its personal assist level on the 40 stage, and transfer to interrupt previous resistance of 42 thereafter.
HNT was one other huge mover on Tuesday, as costs rebounded, ending a streak of 4 straight every day declines.
Helium hit an intraday excessive of $10.21 earlier in right this moment’s session, which comes lower than a day after buying and selling at a low of $7.45.
Despite these declines, costs rose by as a lot as 23% right this moment, transferring previous resistance of $9.80 within the course of.
However, following the sooner breakout, momentum in HNT has barely eased, with costs as soon as once more buying and selling beneath $10.
This is probably going a results of the Relative Strength Index discovering a assist level of its personal at 50, with earlier bulls utilizing this as a great exit level.
Overall, the bullish momentum nonetheless stays, and may we see a breakout above this ceiling, the merchants will seemingly look to focus on the $12 stage.
Is HNT going to hit $12 earlier than the top of the week? Let us know your ideas within the feedback.