In the past 24 hours, most cryptos have fallen, with Bitcoin (BTC) has fallen by 2.66%. Ethereum (ETH) by 3.07% and Solana (SOL) by 3.66%. This is after a few days of mostly positive profits for much of the crypto industry, so it doesn’t look like a major turnaround. These losses are mostly minor and could indicate a quick adjustment before further gains.
THETA / USD
for Theta Network (THETA), however, the decline is more significant. Theta fell 8.33% to USD 5.28 (THETA / USD) in the past 24 hours. A big drop like this means theta is entering dangerous territory and losing much of the progress it has made since the turnaround began on December 20th. Previously, Theta struggled to break the $ 5 mark. Now that it has been on an upward trend for a week, the trend is changing dramatically.
How theta stacks up with other cryptos
The fact that theta is falling at a rate roughly three times that of the major cryptos doesn’t bode well for this crypto that has been doing so well lately. That means it has to go further to reverse its destiny and it may not recover as quickly as some of the others Cryptocurrencies.
Despite the drastic downtrend that theta is going through, it is still stuck in its place among cryptocurrencies, currently ranked 37th. That’s an improvement over last year when it slipped to # 41.
Planning the next move of theta
The highest rate Theta Network has seen recently is $ 5.93 on Sunday, which is when it started to fall. That downtrend stuttered early in the morning yesterday but turned into a steady decline later in the day. This morning the downward trend of Theta slows down and the price smooths out. We see that the theta course is showing signs of calming down, which could mean that it is preparing either way at this point.
Where theta goes from here depends mainly on the movement of the large cryptos. Keep watching Bitcoin, Ethereum, and some of the other high-ranking cryptocurrencies to get an idea of which direction theta will head. However, as yesterday’s sharp downturn showed, theta could move faster than some of the top cryptos. Its unpredictability at this point makes it a dangerous crypto to invest in.
Source: Crypto News Deutsch