|

Theta price has a clear upside target of $9 with no opposition ahead

  • Theta price had a breakout from a symmetrical triangle pattern with a target of $9. 
  • Theta has a clear price target of $9 and faces weak resistance ahead. 
  • The digital asset aims for new all-time highs amid overall market recovery.

The entire cryptocurrency market had a significant pump in the past 24 hours thanks to a FOMC statement by the Federal Reserve, driving the dollar's weakness. Theta also had a significant breakout driven by this price action. 

Theta price aims for $9 as bulls take the lead

Theta had a major breakout from a symmetrical triangle pattern on the 4-hour chart with a price target of about $9, not reached yet. Since Theta has just established a new all-time high at $8.15, there is practically no resistance ahead. 

theta price

THETA/USD 4-hour chart

The next level to beat for the bulls is the previous high of $8.15, followed by the price target at $9, calculated using the height of the triangle pattern as a reference point. 

theta price

THETA/USD 4-hour chart

To invalidate the bullish outlook, bears will need to drive Theta price below $7, which was the previous resistance trendline. A breakdown below this point would push the digital asset down to $6.71 at the 78.6% Fibonacci level. 

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

More from Lorenzo Stroe
Share:

Editor's Picks

Pi Network Price Forecast: PI risks another lower leg as the broader crypto market slips

Pi Network is trading in the red on Thursday, retreating toward a near-term support around $0.0740. The Fear and Greed Index declines to 43 on Thursday, while total liquidations exceed $350 million over the last 24 hours, suggesting a deterioration in investors' risk appetite and a sell-side bias. The technical outlook for PI is bearish, with selling pressure building.

Ripple and Stellar outlook: XRP and XLM lose ground as hawkish Fed tone weighs

Ripple and Stellar remain under pressure on Thursday as bearish derivatives positioning and on-chain signals weigh on sentiment. XRP slides toward key support at $1.30, while XLM gives back some of its recent gains. Meanwhile, the Federal Reserve held interest rates unchanged at 3.75%-4.00% at its two-day October policy meeting.

Cardano Price Forecast: ADA extends bearish reversal as sell-side pressure intensifies

Cardano faces intense selling pressure, with over 4% losses so far on Thursday, pushing the price below $0.2000. The sell-off aligns with the broader cryptocurrency market pullback after the US Federal Reserve decided to pause the federal funds rate at 3.75%-4.00% on Wednesday.

Cardano Price Forecast: ADA extends bearish reversal as sell-side pressure intensifies
Cardano (ADA) faces intense selling pressure, with over 4% losses so far on Thursday, pushing the price below $0.2000. The sell-off aligns with the broader cryptocurrency market pullback after the US Federal Reserve (Fed) decided to pause the federal funds rate at 3.75%-4.00% on Wednesday.
Bitcoin extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin remains under pressure, trading around $81,800 on Friday, recording modest losses so far this week. Despite a mild pullback, institutional demand showed signs of a comeback with spot Exchange Traded Funds recording $442.67 million in net inflows through Thursday.