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Theta (THETA) has been caught in a prolonged downtrend since April 2023, with its price steadily decreasing.
As of 6:06 a.m. EST, THETA is trading at $0.6, showing a modest 0.1% increase over the last 24 hours.
Moreover, over the past week, THETA has displayed a 4% gain, offering a potential opportunity for bullish investors to recoup some of their losses.
THETA’s Descending Triangle Beacons Further Bearish Trend
Since April 2023, THETA has been trading within a falling wedge, with both bulls and bears grappling for control over its price.
A descending triangle pattern has also emerged, indicating a potential bearish trend continuation.
However, the THETA/USD pair is gearing up for further price increases as bullish momentum builds up from the $0.58 support level, aiming to breach the upper boundary of the descending triangle.
Moreover, the daily chart shows that Theta Network’s price currently hovers above the 50-day moving average but below the 200-day moving average.
Failure by the bulls to propel the coin higher could result in a dip below these moving averages, potentially leading to a new low of around $0.58.
The relative strength index (RSI) is also on an upward trajectory, currently at 54, indicating a rebound from the neutral position at 50.
Should this bullish momentum persist, the RSI might reach the overbought region around 70.
Following the chart analysis, THETA’s price exhibits a bearish bias, with critical support levels at $0.58.
Additionally, the Theta Network’s price could discover support at $0.52 and $0.35 as it approaches the wedge’s lower boundary.
Conversely, if the bulls maintain their upward drive, THETA could break free from the channel, setting its sights on resistance levels at $0.77 and $0.79, respectively.
THETA investors should engage in the Wall Street memes, which have less than 6 hours before the presale phase’s conclusion.
Buy Quick: Wall Street Memes (WSM) Presale Ends in Five Hours
Buyers are flocking to the WSM token’s vision of monetizing the meme stock movement and bringing it into crypto. The token has its presale ending in 5 hours
Although Wall Street Memes (WSM) has not officially released the amount raised since it reached the $25 million milestone a couple of weeks ago, it is undeniable that WSM stands out as one of the largest presales of the year.
Get back in there and SELL! SELL! SELL! pic.twitter.com/rtqUbqU6dT
— Wall Street Memes (@wallstmemes) September 22, 2023
Rumors are circulating regarding which centralized exchanges will be the first to list what could soon become one of the most significant and practical meme coins ever.
WSM Boasts Thriving Online Community
Wall Street Memes token has emerged from a thriving online community of one million traders and savvy investors known for their involvement in the meme stocks trend during the pandemic.
It has earned the moniker ‘King of Stonks’ and enjoys significant engagement, including interactions with Elon Musk on its X (formerly Twitter) account.
The aim is to establish itself as the ‘King of Meme Coins.
🤣
— Elon Musk (@elonmusk) April 22, 2023
Wall Street Bets Instagram account boasts 539,000 followers, with an additional 279,000 on X.
Furthermore, it has 100,000 followers spread across its two other Instagram channels, wallstgonewild and wallstbullsnft.
Wall Street Memes’ X account is particularly popular, with each meme tweet garnering tens of thousands, and often hundreds of thousands, of views, likes, and retweets.
WSM 100X Staking, Tier 1 Exchange Listing in about 24 hours
The excitement surrounding the announcement that the WSM will begin listing on multiple Tier 1 exchanges‘ starting September 26 has generated significant FOMO (Fear Of Missing Out).
https://twitter.com/wallstmemes/status/1706260154021191860?s=20
The highly anticipated launch of Wall Street Memes, with its massive presale nearing its end in five hours, has generated significant buzz. Success breeds success, and the association with Elon Musk could potentially lead to 100x gains.
It would be a mistake for crypto market participants to dismiss Wall Street Memes as just another meme coin without utility.
When Musk engages with your X feed, it becomes a marketing asset. With this level of engagement, it’s reasonable to question whether Musk has been purchasing $WSM.
https://twitter.com/wallstmemes/status/1706236765059559557?s=20
The team had always hinted at utility and value-enhancing product innovations, with 30% of the total supply allocated to community rewards.
Launching the staking system a few weeks ago was the first step in this direction. So far, 400,760,140 $WSM tokens have been staked, earning an annual percentage yield (APY) of 52%, as displayed on the staking dashboard.
You can join the presale by acquiring WSM tokens at the present rate of $0.0337 using either cryptocurrency or a credit card. This can be accomplished by linking your Web3 wallet to the WSM token website.
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