Just a couple days ago, Theta was pushing its way towards $8.50 (THETA/USD), but today it’s below $7.00. The crypto token dropped 3.73% over the last 24 hours, and its trade volume is taking a major hit as well. This trade volume drop of nearly 49% over a 24-hour period is one of the biggest we’ve seen for Theta in a long time. What that means for the crypto is that we’re likely to see further sell off over the weekend.
THETA/USD
How Theta Is Looking Moving Forward
We expect Theta to recover coming into the next week, but it is in a rough spot right now. Today’s drop brings Theta down to a point we have not seen since the end of last month. At that point, Theta was on its way up to reach a new all-time high, so this drop today may not be as bad as it seems at first blush.
This is probably a very good time to invest in the crypto, and there’s every indication that it will turn around within a matter of days. Investors should be getting in now while the price is low, as it could go from bearish to bullish at any moment. We have seen turnarounds like that from Theta over the last couple months, as it’s proven to be a very resilient crypto that is pushing upward overall. We expect today’s setback to be only temporary.
Theta was at $7.44 earlier today, so there’s no reason to think that it can’t pull back up above that level by the end of the day. Anyone hoping to make some money off of this crypto should probably invest in Theta very quickly while the price is at the lowest it has been in weeks.
Theta partnered yesterday with Fuse Media to bring NFTS onto their ThetaDrop platform. This cooperative effort could really give Theta a boost, pushing it up the rankings again and causing the price to spike, if the NFT partnership here takes off.