{"id":254680,"date":"2024-02-27T02:35:32","date_gmt":"2024-02-26T21:05:32","guid":{"rendered":"https:\/\/dripp.zone\/news\/key-reasons-why-theta-price-may-prolong-recovery-by-40-crypto-news\/"},"modified":"2024-02-27T02:35:36","modified_gmt":"2024-02-26T21:05:36","slug":"key-reasons-why-theta-price-may-prolong-recovery-by-40-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/key-reasons-why-theta-price-may-prolong-recovery-by-40-crypto-news\/","title":{"rendered":"Key Reasons Why Theta Price May Prolong Recovery By 40% &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><span style=\"font-weight: 400;\">Theta Price: The crypto market witnessed a renewed recovery force as the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/bitcoin\/\">Bitcoin price<\/a> rebounded from the $50600 support last weekend. The positive turnaround propelled several altcoins back to recovery sentiment including Theta. The coin price surged from $1.17 to $1.66 within three days to register 42% growth, the recent price breached the resistance trendline of inverted head and shoulder pattern indicating the asset is poised for further growth.<\/span><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/markets\/crypto-market-analysis-as-metaverse-tokens-regain-momentum-theta-mana-ape\/\">Crypto Market Analysis As Metaverse Tokens Regain Momentum: THETA, MANA, APE<\/a><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<h2><b>Is Theta Price Heading to $2?<\/b><\/h2>\n<p><noscript><img decoding=\"async\" src=\"https:\/\/s3.tradingview.com\/snapshots\/r\/RANpZ84A.png\" alt=\"BINANCE:THETAUSDT Chart Image by sahilmahadik07\"\/><\/noscript><\/p>\n<p><span style=\"font-weight: 400;\">Theta, the native token of a Layer 1 blockchain entered an aggressive recovery mode earlier this month when the price rebounded from $0.93. This bullish recovery surged the coin price by 80% within three weeks to currently trade at $1.67.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<p><span style=\"font-weight: 400;\">The increasing <\/span><span style=\"text-decoration: underline;\"><b>Trading Volume<\/b><\/span><span style=\"font-weight: 400;\"> and surge in futures open interest suggest robust and sustainable growth in the Theta price. Data from Coinglass, a prominent crypto derivatives data provider, shows <\/span><span style=\"text-decoration: underline;\"><b>Theta Futures Open Interest <\/b><\/span><span style=\"font-weight: 400;\">escalating from a low of $16.71 million in January to a recent apex of $39.56 million. This marks an impressive growth of approximately 137% indicating the growing investor enthusiasm and engagement in Theta.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-182721\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Theta Price\" width=\"1200\" height=\"328\" data-lazy-src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/image_2024-02-25_22-45-27-1-e1708980206189.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-182721\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/image_2024-02-25_22-45-27-1-e1708980206189.png\" alt=\"Theta Price\" width=\"1200\" height=\"328\"\/><\/noscript><\/p>\n<h2><b>Theta\u2019s Potential Surge Underpinned by Classic Chart Pattern<\/b><\/h2>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<p><span style=\"font-weight: 400;\"><img decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"BINANCE:THETAUSDT Chart Image by sahilmahadik07\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/8\/8tmKpVt0.png\"\/><noscript><img decoding=\"async\" src=\"https:\/\/s3.tradingview.com\/snapshots\/8\/8tmKpVt0.png\" alt=\"BINANCE:THETAUSDT Chart Image by sahilmahadik07\"\/><\/noscript>With an intraday gain of 20%, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/theta-network\/\">Theta price<\/a> provides a decisive breakout from the neckline resistance of an <\/span><span style=\"text-decoration: underline;\"><b>Inverted Head And Shoulder Pattern<\/b><\/span><span style=\"font-weight: 400;\">. This chart commonly spotted at major market bottom patterns provides an early signal to a trend reversal and long entry opportunity. Currently trading at $1.67, if the altcoin shows sustainability above $1.5, the buyers will obtain suitable support to prolong recovery. Under the influence of this chart pattern, the Theta price should chase 38-40% and hit the $2.31 mark.<\/span><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/bitcoin-eth-xrp-saw-5-7-bln-inflows-ahead-big-developments\/\">Bitcoin, ETH, XRP Saw $5.7 Bln Inflows Ahead Big Developments<\/a><\/p>\n<h2><b>Technical Indicator\u00a0<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Bollinger Band: <\/b><span style=\"font-weight: 400;\">The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/bollinger-band\/\">Bollinger Band<\/a> indicator challenge on the upside reflects the aggressive momentum in this asset.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Average Directional Index: <\/b><span style=\"font-weight: 400;\">The ADX slope at 39% indicates the buyers may trigger a minor pullback to regain strength and maintain a sustainable rally.<\/span><\/li>\n<\/ul>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<p class=\"m-0\">Related Articles<\/p>\n<div class=\"m-on mobiless\">\n<div id=\"social-section-new\">\n<p>\u2713 Share:<\/p>\n<p>                                  <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new wp_new\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/markets\/key-reasons-why-theta-price-may-prolong-recovery-by-40\/\" style=\"display: block\">  <i class=\"fa fa-whatsapp\"\/><\/a><\/p>\n<div>\n                                <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new tw_new_logo\" href=\"https:\/\/twitter.com\/intent\/tweet?text=https:\/\/coingape.com\/markets\/key-reasons-why-theta-price-may-prolong-recovery-by-40\/\"><br \/>\n  <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\"\/><br \/>\n<\/a>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                  \n\n<div class=\"col-6 pl-2\">\n                 \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-10-web-3-games-to-explore-in-2023-here-list\/\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                <\/div>\n\n\n        <\/div>\n\n                    --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA182720\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD182720\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p><!-- \n\n<div class=\"container p-1 mb-3  mt-4 \">\n    \n    \n     \n\n<div class=\"Maintitle clgrn border-0\">\n               <span>Crypto Stories<\/span>\n                    \n                    \n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/\" class=\"viewAll p-0\">View all<\/a>\n                <\/div>\n\n\n     \n\n<div class=\"row mobileXS \">\n                     \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/cracking-the-code-safeguarding-your-defi-lending-journey\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" 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       \n  \n     \n                              \n          <\/div>\n\n\n    \n          \n \n    \n            \n    <\/div>\n\n        --><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Theta Price: The crypto market witnessed a renewed recovery force as the Bitcoin price rebounded from the $50600 support last weekend. The positive turnaround propelled several altcoins back to recovery sentiment including Theta. The coin price surged from $1.17 to $1.66 within three days to register 42% growth, the recent price breached the resistance trendline [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":254681,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-254680","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/254680","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=254680"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/254680\/revisions"}],"predecessor-version":[{"id":254682,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/254680\/revisions\/254682"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/254681"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=254680"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=254680"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=254680"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}