Technical Analysis: THETA Surges 20%, While LEO Falls Lower, Again

LEO fell for a second consecutive session, as crypto markets traded with larger ranges of volatility on Thursday. THETA ignored this uncertainty and climbed by shut to twenty% immediately.

Biggest gainers

Following turbulence throughout immediately’s buying and selling session, the worldwide cryptocurrency market capitalisation was in a position to climb, and was round 1% larger as of writing. .

Leading this achieve was theta community (THETA), which, as of writing, was buying and selling 18.87% larger, which was virtually double its closest bull, secret (SCRT).

THETA, which was buying and selling at a low of $3.33 on Wednesday, climbed to an intraday excessive of $4.11 earlier immediately.

This transfer noticed THETA/USD breakout of resistance at $3.48, which had been in place since January 22.

As a results of the breakout, the ten/25 day shifting averages marginally crossed, and this was the primary upward cross since late December.

Price power additionally broke new floor, with the 14-day RSI shifting to 62, after shifting previous its long-term ceiling of 59.

THETA remains to be roughly $4 away from its all-time excessive (ATH).

Biggest losers

Due to elevated ranges of volatility, markets primarily consolidated and there weren’t many sizeable losers.

However, for a second consecutive day LEO traded decrease, as bear’s nonetheless appear to be capturing income, following Tuesday’s 50% rally.

LEO/USD, was buying and selling round 7% decrease as of writing, as costs appear to be heading in direction of its former resistance degree at $5.36..

Should we attain that time, the query will undoubtedly be will a brand new flooring be fashioned, or will costs proceed to free fall.

The 14-day RSI at the moment sits at a help of 64, nevertheless, ought to this break, it may very well be the signal bears want to extend downward strain.

Could LEO recapture this week’s highs as we head into the weekend ? Let us know your ideas within the feedback.