THETA coin price retraces to $2.5 with the recent reversal from the supply rich resistance trendline. Will bulls surpass the resistance trendline? Key technical points: THETA coin price forms a morning star pattern The Stochastic RSI shows the possibility of an early bullish crossover. The 24-hour trading volume in the Theta Network is $213 Million, indicating a 50% rise. Past Performance of THETA THETA prices continue to create lower high formation under the bearish influence of the 50-day EMA and the long-coming resistance trendline. The altcoin retraces to $2.5 and forms a morning star pattern that hints of a bullish reversal to the 50-day EMA. Moreover, the sudden overnight recovery of the crypto market increases the chances of a turnaround. Source-Tradingview THETA Technical Analysis THETA prices show a growth of 5.38%, with the demand met near the $2.5 mark, reflecting a bullish revolt after the 20% fall last week. Hence, buyers can expect the reversal to reach the $3 mark at the current price. The crucial EMAs maintain a bearish alignment as the altcoin continues under the highly influential resistance trendline. Moreover, the dynamic resistance provided by the 50-day EMA keeps the bullish growth in check. RSI Indicator: The RSI slope shows a reversal from the 14-day average after tanking below the 50% line. Moreover, the RSI slope projects a bullish divergence in the last two dips at the $2.5 mark. Hence, the chances o...
