The Theta blockchain is a purpose-built decentralized video delivery network and cryptocurrency. It provides both technical and economic solutions to the problems facing the streaming sector. The Theta blockchain was designed to incentivize the sharing of bandwidth across the network. Specifically, users gain the opportunity to contribute their excess bandwidth and computing resources in exchange for token rewards. The following THETA technical analysis predicts the price momentum for the next few days: Past Performance THETA price downslides below $11.83, as suggested in the previous analysis. On May 19, 2021, THETA started trading at $8.52 and closed at $8.45. During the later hours of trading, it fell to $3.83. In the past week, the THETA price has decreased by roughly 55%. During the last 24 hours, THETA has traded between $6.67-$7.03. https://ift.tt/3u74l6w Day-Ahead and Tomorrow THETA was trading at $7.23 on May 18, 2021. This was one of the most recent highs after which the price has been falling through May 19, 2021, to find support at $6.99 on May 20, 2021. It then rose back to $7.54. The MACD and signal lines are positive. Moreover, a neutral crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum seems positive. We can expect the price to move upwards in a losing trajectory. Currently, the RSI indicator is at 45%. It faced rejection at 78% and rallied to the current level. Thus, selling pressures are high. Thus, the RSI indicator is giving further credence to flat signals given by the MACD oscillator. THETA Technical Analysis Currently, the price is above the Fibonacci pivot point of $5.8. The price is soon likely to break out of the first resistance level of $8.23. The price may break out of the subsequent resistance levels of $9.4 and $11.0 respectively, in the coming few days. Thus, as of now, the neutral to positive trend seems strong, and the price rise is likely to continue the same as well.
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