Biggest Movers: THETA Hits 3-Month High, While Near Climbs 17% on Friday

Biggest Movers: THETA Hits 3-Month High, While Near Climbs 17% on Friday

Theta network was trading at its highest point in three months on Friday, as prices broke out of a key resistance level. Today’s move comes as crypto markets were mostly higher in the session, climbing 2.86% as of writing. Near protocol rose by 17%, also recording multi-month highs. Theta Network (THETA)

Theta network (THETA) was one of Friday’s notable gainers, as prices rose by nearly 16% in today’s session.

Friday’s surge saw the token hit an intraday high of $1.65, which comes less than 24 hours after trading at a low of $1.37.

Today’s rally sees THETA/USD climb to its highest point since May 11, when price was at a peak of $1.84. THETA/USD – Daily Chart

Looking at the chart, the move came as THETA broke out of its key resistance level at $1.57, which is two days removed from its last attempt to move past this hurdle.

This comes as the relative strength index (RSI) also moved past a ceiling of its own at 62, and as of writing, it is tracking at 65.30.

This is the highest point price strength has hit since April, and comes as THETA has entered overbought territory.

Bears could look to reenter the market in upcoming sessions as a result of this. Near Protocol (NEAR)

Near protocol (NEAR) was trading even higher than THETA on Friday, with the token climbing by as much as 17%.

Following a low of $4.33 on Thursday, NEAR/USD raced to a peak of $5.19 earlier in today’s session.

Like THETA, this high came as near protocol broke out of its long-term resistance level of $4.80. NEAR/USD – Daily Chart

This ceiling was held since June 10, which was the beginning of a five-day bearish streak that pushed price to a low of $3.11.

Since rebounding from those declines, the 14-day RSI has gone from a low of 36.51 on June 14, to now tracking at 68.

As a result of this, prices are now overbought, although bulls appear keen to move even higher, as they target a ceiling of $5.55.

Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, NEAR, near protocol, Theta, Theta Network

Do you expect near protocol to surge further, despite being overbought? 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 Price Outlook for August: BTC Faces Some Important Tests in the Coming Weeks MARKET UPDATES | 1 hour ago Bitcoin, Ethereum Technical Analysis: ETH Rebounds on Friday, Climbing Above $1,700 MARKET UPDATES | 11 hours ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleMeta Reportedly Issuing $10 Billion in Bonds to Invest in Its Metaverse Products and Other Initiatives Next articleRainbows, Log Charts, and S2F: Bitcoin’s 2022 Bear Market Has Broken the Community’s Most Popular Price Models 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 ItFidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand"

Fidelity Investments, one of the largest financial services firms with more than $11 trillion under administration, is launching exchange-traded funds (ETFs) focusing on the crypto ecosystem and the metaverse. "We continue to see demand, particularly from young investors, for access ... read more.Goldman Predicts US Recession Odds at 35% in 2 Years, John Mauldin Wouldn"t Be Surprised if Stocks Fell 40% FBI Issues Alert Concerning Malicious State-Sponsored North Korean Hackers Targeting Crypto Firms Iran to Increase Penalties for Unauthorized Cryptocurrency Mining Economist Predicts the Fed"s Response to Inflation Will Push Crypto Higher