Up or down? Theta (THETA) price forecast for November.

0

If the price jumps above $0.70 again, the next target could be $0.80 or even $0.90.
If the price drops below $0.60, it would be a “sell” signal and we have the open path to $0.50.
Theta could improve the video streaming industry in its current form by making it more efficient.

The price of Theta (THETA) has been in an uptrend for the past few months and so far there is no signal for a trend reversal. There is still some uncertainty regarding the theta project, but if the price jumps above $0.70 again, the next target could be $0.80 or even $0.90.

Fundamental analysis: Theta could improve the video streaming industry

The theta (THETA) price has risen from $0.10 to $0.79 in less than six months, and the current price is around $0.62. The crypto-currency market did not make much movement this Monday, although Pfizer and BioNTech announced that their jointly developed COVID-19 vaccine is effective in more than 90% of patients.

Theta, launched in March 2019, is a decentralized peer-to-peer network that can provide enhanced video delivery at lower cost. Theta could improve the video streaming industry, and it is also important to note that Theta has partnered with Chainlink to combat online video ad fraud.

Theta has its own crypto currency THETA, and the project is advised by Steve Chen, co-founder of YouTube. THETA’s total stock is limited to 1 billion tokens and is distributed among all network participants in varying proportions.

There is a very good team 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 not forget that regulations in the crypto-currency market can actually pose a threat to this crypto-currency.

Investors in Theta should remember 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 $0.70
Data source: tradingview.com

On this diagram I have marked important resistance and support levels. The important support levels are $0.60 and $0.50, $0.70 and $0.80 represent the resistance levels. If the price jumps above $0.70 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 $0.60 it would be a “sell” signal and we have the open path to $0.50.

Summary

The Theta (THETA) price has been in an uptrend over the last few months and so far there is no signal for a trend reversal. The crypto-currency market did not make much movement this Monday, although Pfizer and BioNTech announced that their jointly developed COVID-19 vaccine is effective in more than 90% of patients. 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 back above $0.70, it would be a signal to buy this crypto currency and we have the open road to $0.80.

Share.

Leave A Reply