Theta could change the online video industry in a similar way as YouTube changed traditional video
Theta has been on an upward trend in the last few months, and so far there is no signal for a trend reversal
If the price jumps above $0.80, the next target could be $0.90 or even $1
The price of theta (THETA) has risen from $0.10 to $0.79 in less than six months, and the current price is about $0.60. There is still some uncertainty regarding the Theta project, but if the price jumps above $0.80, the next target could be $0.90 or even $1.
Fundamental analysis: Theta could improve the video streaming industry
Launched in March 2019, Theta is a decentralized peer-to-peer network that provides enhanced video delivery at lower cost. Theta has its own crypto currency THETA, and the project is advised by Steve Chen, co-founder of YouTube.
The total amount of THETA is limited to 1 billion tokens and is distributed among all network participants in varying proportions.
“THETA’s innovation will disrupt today’s online video industry in the same way that the YouTube platform disrupted the traditional video industry in 2005. One of our biggest challenges has been the high cost of delivering video to different parts of the world, and this problem will only get worse with video streams in HD, 4K and higher quality,” said Steve Chen, co-founder of YouTube.
The price of theta (THETA) has been on an upward trend in recent months, and so far there is no sign of a reversal in the trend. It is also important to mention that Theta has partnered with Chainlink to combat fraud in online video ads.
A very good team is behind this project, the basics of this crypto currency are constantly improving, but there is still a certain amount of uncertainty regarding the project. We must also remember that regulations in the crypto-currency market can actually pose a threat to this crypto-currency.
Investors in Theta should keep in mind that it is still a very risky crypto currency, but now might be a good time to trade Theta (THETA).
Technical Analysis: Bulls focus on breaching the resistance level at $0.80
Data source: tradingview.com
On this diagram I have marked important resistance and support levels. The important support levels are $0.50 and $0.40, $0.70 and $0.80 represent the resistance levels. If the price jumps above $0.70 again, it would be a signal to buy theta (THETA) and we have the open path to $0.80.
A rise above $0.80 supports the continuation of the bullish trend and the next price target could be $0.90 or even $1. On the other hand, if the price falls below $0.50 it would be a strong “sell” signal and we have the open path to $0.40.
Theta could improve the video streaming industry in its current form by making it more efficient and cost-effective. There are some obvious risks in investing in theta at this time, but if the price jumps above $0.80, it would be a signal to buy this crypto currency, and we have the open road to $1.