THETA started a strong increase from the $6.50 support zone against the TetherUS. The price is now up over 25% and it is likely to continue higher above $15.00.
- THETA started a strong rally above the $8.00 and $10.00 resistance levels against the TetherUS.
- The price is trading nicely above $12.00 and the 100 simple moving average (4-hours).
- There is a key bullish trend line forming with support near $10.00 on the 4-hours chart of the THETA/USD pair (data source from Kraken).
- The pair is likely to continue higher if it clears the $15.00 and $15.50 resistance levels in the near term.
THETA Enters Top 10
After forming a support base above the $6.00 and $6.50 levels, THETA price started a sharp increase. It broke a couple of important hurdles near $10.00 to move into a solid uptrend, outperforming bitcoin and ethereum.
The price even cleared the $12.00 resistance and settled above the 100 simple moving average (4-hours). A new all-time high is formed near $14.57 and it has entered the top 10 cryptos by market cap. THETA is currently consolidating gains above the $13.50 support.Source:The bulls are likely to protect the 50% Fib retracement level of the upward move from the $9.74 low to $14.57 high near $12.16 level. Moreover, there is a key bullish trend line forming with support near $10.00 on the 4-hours chart of the THETA /USD pair.