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THETA INCREASES BY 20%, While LEO DECREASES

LEO plummeted for the second consecutive day on Thursday, as crypto markets saw more volatility. THETA shrugged off this uncertainty and increased by over 20% today.

The most significant gainers

Following today’s trading session’s turmoil, the global cryptocurrency market capitalisation was able to recover and was approximately 1% higher as of writing.

Leading this rally was theta network (THETA), which was trading 18.87 percent higher as of this writing, about double its previous bull, hidden (SCRT).

THETA, which closed Wednesday’s trading at a low of $3.33, surged to an intraday high of $4.11 earlier today.

THETA/USD broke through resistance at $3.48, which had held since January 22.

The 10/25 day moving averages crossed modestly higher as a result of the breakthrough, marking the first upward cross since late December.

 

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Price strength also reached new highs, with the 14-day RSI rising to 62 from its long-term low of 59.

THETA is still approximately $4 behind its all-time high (ATH).

The greatest losses

Due to the increasing volatility, markets consolidated and there were few significant losers.

However, LEO went down for a second consecutive day, as bears appear to be recouping profits following Tuesday’s 50% rise.

LEO/USD was trading around 7% lower, as prices appear to be moving towards its prior resistance level of $5.36.

If we reach that position, the question is clearly whether a new floor will emerge or whether prices will continue to collapse.

 

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The 14-day RSI is currently near a support level of 64; however, if this level is broken, bears may be signaled to escalate downward pressure.

 

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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