THETA traded higher Tuesday as prices rebounded, moving away from multi-year lows in the process; HNT was also up, rising as much as 20% during today’s session, while the price of THETA was down as much as 20% during the day.
Theta Network (THETA)
THETA was one of the most notable movers in today’s session, with prices up nearly 20% earlier in the day.
After a weekly low of $0.9688, THETA/USD rose to an intraday peak of $1.22 on Tuesday.
Today’s surge took THETA away from yesterday’s lows to its lowest price level since December 2020.
THETA/USD – Daily Chart
At the time of writing, the price is trading above $1.00, just above the key support point of $1.14.
As this floor begins to stabilize, we expect the bulls to gradually re-enter the market and gradually regain price momentum.
For this to happen, the 14-day RSI must stay above its own support point, the 40 level, and then move to break through the 42 resistance.
Helium (HNT)
HNT made another big move on Tuesday, as prices rebounded and ended a streak of four consecutive daily drops.
Helium hit an intraday high of $10.21 in today’s session, less than a day after trading as low as $7.45.
Despite these declines, prices rose 23% today, moving past $9.80 resistance in the process.
HNT/USD – Daily Chart
However, after the earlier breakout, HNT’s momentum weakened somewhat and it is once again trading below $10.
This is likely the result of the Relative Strength Index finding its own support point at 50, which previous bulls used as an ideal exit point.
Overall, the bullish momentum still remains and traders will likely target the $12 level if this cap is breached.
Image credits: Shutterstock, Pixabay, Wiki Commons
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