Theta (THETA) price explodes this December. Here are the next price targets

By: Stanko Iliev
Stanko Iliev
Stanko dedicates himself to providing investors with relevant information they can use to make investment decisions. He loves the… read more.
on Dec 27, 2020
  • Theta is one of the best performers on the cryptocurrency market this December
  • As long the price is above $1, there is no risk of the bear market
  • If the price jumps again above $1.6 resistance, the next target could be around $1.7 or even $1.8

Theta (THETA) price has advanced from $0.60 above $1.8 since the beginning of December, and the current price stands around $1.40. Theta was one of the best performers on the cryptocurrency market in the last several weeks, and for now, there is no signal of the trend reversal.

Fundamental analysis: Theta is a very risky cryptocurrency 

Theta is a decentralized peer-to-peer network that was launched in 2019 year, and according to analysts, this network could improve the video streaming industry. Theta offers better video delivery at lower costs, and it is also important to mention that Theta has partnered with Chainlink to fight against online video ad fraud.

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All major cryptocurrencies are advancing this trading week; Bitcoin has increased above the $28000, and this situation also supports Theta’s price. “The bull cycle of bull cycles has started, as more and more players are starting to adopt towards Bitcoin and cryptocurrencies,” said Cointelegraph Markets analyst Michaël van de Poppe.

Theta has been moving in an uptrend last several months, and the price of this cryptocurrency has exploded in December. Theta price has extended its correction from the recent highs above $1.8, but as long the price is above $1, there is no risk of the bear market.

My opinion is that this is a very risky cryptocurrency, and if you decide to trade Theta (THETA), you should always use a “stop-loss” order.

Technical analysis: As long the price is above $1, there is no risk of the bear market

The current trend of this cryptocurrency remains bullish, but if you decide to invest in Theta (THETA), you should have in mind that the price could also weaken in the upcoming days. This cryptocurrency has made a very big jump in a short-time period, and the correction phase could be around the corner.

Data source: tradingview.com

The current resistance levels are $1.6 and $1.8; $1.2 and $1 represent the current support levels. If the price jumps above $1.6, it would be a signal to trade Theta (THETA), and we have the open way to $1.7 or even $1.8.

On the other side, if the price falls below $1.2, it would be a firm “sell” signal, and we have the open way to $1.

Summary

Theta price has extended its correction from the recent highs above $1.8, but as long the price is above $1, there is no risk of the bear market. According to some analysts, the collaboration with Chainlink to solve fraud could be one of the reasons behind the current price rise. My opinion is that this is a very risky cryptocurrency, but if the price jumps again above $1.6 resistance, the next target could be around $1.7 or even $1.8.

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