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The Theta Network price has experienced a substantial 11% price surge, elevating its trading price to $0.74 as of 6:48 a.m. EST.
This price surge has contributed to a weekly performance increase of 13.1%.
The trading volume in the last 24 hours is $108 million, indicating a remarkable 605.60% surge compared to the previous day, highlighting a recent upswing in market activity.
Can THETA Network Price Break $0.86 Resistance?
The THETA price has been gradually recovering from the $0.57 support area following a downturn experienced at the $0.866 resistance level.
However, this recovery was swiftly met with resistance at the same level, impeding the progress of the bullish trend and leading to a short correction from the bears intending to recoup their losses.
Bullish investors continue to show resilience by steadily driving the price upward, surpassing the 50-day simple moving average (SMA). The current positioning of the 50-day SMA below the price underscores the ongoing bullish sentiment.
It’s essential to take note that the 200-day SMA presents a challenge for the bulls that they need to overcome.
Furthermore, the Relative Strength Index (RSI) is on an upward trend, rising above the 50-level mark after bouncing back from the oversold region. This indicates intense buying pressure that has propelled the RSI into overbought territory, typically above the 70 mark.
To regain their prior losses and surpass the 200-day SMA, the bulls must muster a significant increase in strength to reach levels around $1.24.
On the flip side, if the bulls face difficulties sustaining their momentum, it could open the door for bears to drive the price down toward the support zone at $0.64, supported by the 200-day SMA.
That’s a real risk so some investors may want to consider Wall Street Memes as an alternative.
Wall Street Memes Spark Optimism Amidst Price Decline
Cryptocurrency analysts and traders are more optimistic about the possibilities presented by Wall Street Memes.
Recently, Wall Street Memes executed a $1 million buyback of $WSM tokens. They moved these tokens to the rewards wallet to strengthen community incentives. These buybacks have led to a surge in short-term buying pressure in the market.
The potential of Wall Street Memes is instilling optimism among cryptocurrency analysts and traders.
The WSM price is trading at $0.021, marking an 8.4% decline in the last 24 hours. However, the price is poised to rebound on the $0.022 support zone, indicating a potential shift towards a bullish trend.
Wall Street Memes Could Rebound at the $0.022 Support
The price of WSM is currently in a consolidation phase after facing rejection at the $0.05 resistance level and erasing some of the gains made by bullish investors.
However, there is strong potential for a rebound as the $0.022 support zone could allow the bulls to regather and make an effort to push the price upwards. If they can muster the required strength, they may break through the upper boundary of the consolidation phase, to reach new highs.
The relative strength index (RSI) displays signs of a recovery, moving from the 50 levels and trending upward at 68, approaching the overbought region around 70. This suggests there is substantial buying pressure affecting WSM’s price.
The bulls remain vigilant and may aim to push the price higher, with the target being the upper boundary of the consolidation phase, reaching the $0.045 price objective.
Cilinix Crypto expresses confidence in the bullish momentum of WSM and believes that the price will surpass the consolidation phase, as he explained in his video.
Jacob Bury agrees with this sentiment after he went bullish on the token, investing $10,000 worth of WSM.
🔔 ANNOUNCEMENT
The news you've all been waiting for is here!@KuCoinFutures has launched $WSM Perpetual Contracts with up to 20x Leverage
Trade Now ➡️https://t.co/ffrUJJDZLn pic.twitter.com/cMlcTudZfB
— Wall Street Memes (@wallstmemes) October 27, 2023
You can buy $WSM on various popular exchanges, like Kucoin, OKX, MEXC, LBANK, and GATE.IO, among others.
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