It’s another bad week for thetasince the cryptocurrency falls below $2 to $1.86 (THETA/USD). That’s down 1.97% over the past 24 hours as the cryptocurrency edged higher in the early hours Tuesday. Overall, theta is trending down and has been on a fairly steady decline for the past month.
How theta performs
Theta trading volume is up 93% to $403 million. This could indicate a major sell off, but we are also seeing many people buying this crypto at its historically low price below the $2 level.
The last time Theta hung around at this level was more than two years ago, in January 2021. Since then, Theta has stayed between $3 and $4 most of the time. This cryptocurrency is certainly going through tough times, but the question is how long it will last.
Where is this crypto headed?
Theta could continue lower and remain bearish for a while, but we don’t think that’s likely. Where it goes depends mainly on the market and the economy. As they recover, theta will be boosted by the upgrade. However, historically, theta will not stay below $2 for long. It will likely sell well at this low price and that could mean a selling spree that will help push the price higher very soon.
Expect this big drop to be a turnaround for theta will bring about as interest in the crypto token increases.
Theta also tumbled under a weak economy last week, below the $2.50 level and already making history for Theta price. It’s hard to tell how much lower theta will drop before it reverses, but we expect a price shift anytime.
Source: Crypto News Deutsch