THETA started a strong increase from the $ 6.50 support zone against the dollar. The price has now increased over 25% and will likely continue to rise above $ 15.00.

 

Strong rally

THETA started a strong rally above the $ 8.00 and $ 10.00 resistance levels against the dollar.

The price is trading nicely above $ 12.00 and the 100 simple moving average.

There is an important bullish trend line formed with support near $ 10.00 on the 4-hour chart of the THETA / USD pair.

The pair is likely to continue to rise if it clears the $ 15.00 and $ 15.50 resistance levels in the near term.

If the THETA price does not move above $ 15.00 or $ 15.50, it may make a correction to the lower levels. The first major support is near the $ 12.20 and $ 12.00 levels.

The main support is currently forming near the $ 10.00 zone and the trend line. A downside break below the $ 10.00 support could open the doors for a push towards the $ 7.50 support.

 

Technical indicators

4-Hour MACD – The MACD for THETA / USD is gaining momentum in the bullish zone.

4-Hour RSI (Relative Strength Index) – The RSI for THETA / USD is well above the 60 level.

Major Support Levels – $ 12.20, $ 12.00 and $ 10.00.

Major Resistance Levels – $ 14.50, $ 15.00 and $ 20.00.

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