THETA Technical Analysis: Will The Exhausted Bulls Reach $5?

The THETA coin price breaks above the $4 mark but makes a Doji candlestick representing the exhaustion of bulls. Will the stamina drained bulls reach $5? Theta’s primary business idea is decentralizing streaming of videos, data delivery and edge computing which makes it more cost-effective, efficient and fair to all participants in the industry. It was co-founded by Mitch Liu and Jieyi Long in 2018. Liu has a long-standing history in the video and gaming industries. He was the co-founder of video advertising company Tapjoy and the mobile social gaming company Gameview Studios, and THETA.tv which is a live streaming platform which’s DApp was the first one to be developed using Theta protocol. Let us move ahead to read about Theta technical analysis. Past Performance of THETA Theta token price breaks above the long-coming resistance trendline in the daily chart with a 50% jump in the past week. The uptrend even breaks surpasses the crucial horizontal level at $4 with a bullish engulfing candlestick of 18% rise. THETA/USD Daily Chart THETA Technical Analysis The THETA coin price action shows a potential Doji candlestick in formation as the price attempts to retest and sustain above the $4 mark. Moreover, the rise in buying pressure is evident by the sustenance of bullish growth as the entire market corrects. The RSI indicator shows a boom in the underlying buying pressure as the slope spikes higher to reach the overbought zone. M...