Biggest Movers: THETA, HNT Rise Over 20%, Despite Crypto Crash

Biggest Movers: THETA, HNT Rise Over 20%, Despite Crypto Crash

THETA was trading higher on Tuesday, as prices rebounded, moving away from multi-year lows in the process. HNT also rallied, climbing by as much as 20% earlier in today’s session. Theta Network (THETA)

THETA was one of the most notable movers during today’s session, as prices gained by nearly 20% earlier in the day.

Following a low of $0.9688 to start the week, THETA/USD rose to an intraday peak of $1.22 on Tuesday.

Today’s surge saw THETA move away from yesterday’s bottom, which is the lowest level prices have been since December 2020. THETA/USD – Daily Chart

As of writing, prices are now back above $1.00, and are trading slightly above a key support point of $1.14.

Should this floor begin to stabilize, we could see bulls slowly re-enter the market, and gradually look to regain price momentum.

For this to happen, the 14-day RSI must remain above its own support point at the 40 level, and move to break past resistance of 42 thereafter.

Helium (HNT)

HNT was another big mover on Tuesday, as prices rebounded, ending a streak of four straight daily declines.

Helium hit an intraday high of $10.21 earlier in today’s session, which comes less than a day after trading at a low of $7.45.

Despite these declines, prices rose by as much as 23% today, moving past resistance of $9.80 in the process. HNT/USD – Daily Chart

However, following the earlier breakout, momentum in HNT has slightly eased, with prices once again trading below $10.

This is likely a result of the Relative Strength Index finding a support point of its own at 50, with previous bulls using this as an ideal exit point.

Overall, the bullish momentum still remains, and should we see a breakout above this ceiling, the traders will likely look to target the $12 level. Tags in this story Analysis, helium, HNT, rebound, Theta

Is HNT going to hit $12 before the end of the week? Let us know your thoughts in the comments. Eliman Dambell

Eliman brings a eclectic 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: BTC Falls to $20,000 Range, as Sell-Off Extends MARKET UPDATES | 10 hours ago Biggest Movers: DOGE, SOL Hit 1-Year Lows as Cryptos Crash MARKET UPDATES | 1 day ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleDespite Overcollateralized Reserve, Tron’s USDD Stablecoin Slips to $0.974 per Token Next articleRanked Wall Street Analyst, Founder of altFINS, Democratizes Crypto Investing 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 ItCentral Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing