THETA Technical Analysis: Hidden RSI Divergence Hints the Formation of Double Bottom Pattern

THETA coin price action shows recovery signs at the $3.8 support with the double bottom pattern formation, is this the end of the correction phase? Theta, a blockchain-powered network, is designed specifically to stream video. Theta’s main net functions as a decentralized network in which users can share bandwidth and computing resources on a peer-to-peer basis. Theta network has its own unique crypto token THETA, which is used to perform different governance functions in the network. The network is able to count Google, Binance, Sony Europe, and Samsung as Enterprise validators. In addition to the Guardian network that includes a number of community-run guardian nodes. Let us move ahead to read about Theta technical analysis. Past Performance of THETA The 2021 Christmas recovery in THETA coin faced intense selling pressure from the $5.7 resistance. The coin price was rejected from this overhead resistance with an evening star candle and plunged back to $3.8 bottom support. This 30% discount in Theta coin could lure more investors, indicating a high possibility of bullish reversal. THETA/USD Daily Chart THETA Technical Analysis The THETA coin price has been hovering above the $3.8 support for almost two weeks, trying to obtain sufficient buying pressure. The technical chart shows several lower price rejection candles at $3.8, projecting the pressure of strong demand. The recent jump in the coin price is challenging the first d...