THETA traded higher on Tuesday as prices rallied, pulling away from multi-year lows in the process. HNT also rallied, rising as much as 20% earlier in today’s session.
Theta Network (THETA)
THETA was one of the most notable moves during today’s session as prices gained almost 20% earlier in the day.
After hitting a low of $0.9688 at the start of the week, THETA/USD rose to an intraday high of $1.22 on Tuesday.
Today’s surge caused THETA to move away from yesterday’s bottom, which is the lowest level prices have been since December 2020.
At time of writing, prices are now back above $1.00 and trading slightly above a key support point of $1.14.
If this bottom starts to stabilize, we could see bulls slowly reentering the market and gradually looking to regain price momentum.
For this to happen, the 14-day RSI needs to stay above its own support point at the 40 level and move to break above the 42 resistance thereafter.
HNT was another big move on Tuesday as prices rallied, ending a streak of four consecutive daily declines.
Helium hit an intraday high of $10.21 earlier in today’s session, which comes less than a day after trading as low as $7.45.
Despite these declines, prices are up as much as 23% today, breaking through the $9.80 resistance in the process.
However, following the previous breakout, the momentum in HNT has tapered off slightly, with prices once again trading below $10.
This is likely a result of the Relative Strength Index finding a foothold of its own at 50, and previous bulls using it as an ideal exit point.
Overall, the bullish momentum is still holding, and if we see a break above this top, traders are likely to look to target the $12 level.
Will HNT hit $12 before the end of the week? Let us know your thoughts in the comments.
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