THETA Cryptocurrency Forecast

High volatility in THETA cryptocurrency price on Wednesday which ended trading at $2.01
(Updated on May 01, 2024)

THETAUSD Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The THETA cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $2.28 and $2.48. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -41.83%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely.

Support, Risk & Stop-loss for THETA cryptocurrency

THETA finds support from accumulated volume at $1.93 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This cryptocurrency may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.310 between high and low, or 16.00%. For the last week, the cryptocurrency has had daily average volatility of 11.35%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (THETAUSD) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect THETA to open at $2.07, and during the day (based on 14 day Average True Range), to move between $1.75 and $2.28, which gives a possible trading interval of +/-$0.262 (+/-13.01%) up or down from last closing price. If THETA takes out the full calculated possible swing range there will be an estimated 26.02% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $1.93 (4.32%) than the resistance at $2.15 (6.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is THETA cryptocurrency A Buy?

The THETA cryptocurrency holds several negative signals and despite the positive trend, we believe THETA will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.875 Sell Candidate Downgraded

Predicted Opening Price for THETA of Thursday, May 2, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.