Technical Analysis: THETA Surges 20%, While LEO Falls Lower, Again
LEO fell for a second consecutive session, as crypto markets traded with higher levels of volatility on Thursday. THETA ignored this uncertainty and climbed by close to 20% today. Biggest gainers
Following turbulence during today’s trading session, the global cryptocurrency market capitalisation was able to climb, and was around 1% higher as of writing. .
Leading this gain was theta network (THETA), which, as of writing, was trading 18.87% higher, which was almost double its closest bull, secret (SCRT).
THETA, which was trading at a low of $3.33 on Wednesday, climbed to an intraday high of $4.11 earlier today.
This move saw THETA/USD breakout of resistance at $3.48, which had been in place since January 22.
As a result of the breakout, the 10/25 day moving averages marginally crossed, and this was the first upward cross since late December. THETA/USD – Daily Chart
Price strength also broke new ground, with the 14-day RSI moving to 62, after moving past its long-term ceiling of 59.
THETA is still roughly $4 away from its all-time high (ATH). Biggest losers
Due to increased levels of volatility, markets mainly consolidated and there were not many sizeable losers.
However, for a second consecutive day LEO traded lower, as bear’s still seem to be capturing profits, following Tuesday’s 50% rally.
LEO/USD, was trading around 7% lower as of writing, as prices seem to be heading towards its former resistance level at $5.36..
Should we reach that point, the question will undoubtedly be will a new floor be formed, or will prices continue to free fall. LEO/USD – Daily Chart
The 14-day RSI currently sits at a support of 64, however, should this break, it could be the sign bears need to increase downward pressure. Tags in this story Crypto markets, Gainers, LEO, Losers, Market Update, Prices, Technical Analysis, Theta
Could LEO recapture this week’s highs as we head into the weekend ? Let us know your thoughts in the comments. Eliman Dambell
Eliman brings a diversified point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: ETH, BTC Volatile as US Inflation Hits 40-Year High MARKET UPDATES | 8 hours ago Technical Analysis: Flow Moves Higher, as SHIB Climbs 12% MARKET UPDATES | 1 day ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleUS Inflation Jumps to 7.5%, CPI Climbs at Fastest Rate in 40 Years, Citizens See Little Wage Growth Next articleCity of Miami Gets $5.25M Disbursement From Miamicoin as MIA Flounders 88% Lower Than Price High Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItWeekly NFT Sales Drop 13% While Crypto Prices Rebound From Market Rout
Last week, non-fungible token (NFT) sales remained unscathed while crypto asset spot markets were dismal. However, a week later, NFT sales have dropped 13% to $800 million in sales over the last seven days. During the past week, NFT sales ... read more.Robinhood to Launch Crypto Trading Internationally — Sees "Immense Potential" in Crypto Economy Nobel Laureate Paul Krugman Likens Crypto Market to Subprime Mortgage Crash — Warns Regulators Are Making the Same Mistake IMF Tells El Salvador: Costs of Making Bitcoin Legal Tender Exceed Potential Benefits Ubisoft Executive Thinks Players Reject NFTs Because They Don"t Understand Benefits