Technical Analysis: THETA Surges 20%, While LEO Falls Lower, Again

LEO fell for a 2nd consecutive session, arsenic crypto markets traded with higher levels of volatility connected Thursday. THETA ignored this uncertainty and climbed by adjacent to 20% today.

Biggest gainers

Following turbulence during today’s trading session, the planetary cryptocurrency marketplace capitalisation was capable to climb, and was astir 1% higher arsenic of writing. .

Leading this summation was theta web (THETA), which, arsenic of writing, was trading 18.87% higher, which was astir treble its closest bull, concealed (SCRT).

THETA, which was trading astatine a debased of $3.33 connected Wednesday, climbed to an intraday precocious of $4.11 earlier today.

This determination saw THETA/USD breakout of absorption astatine $3.48, which had been successful spot since January 22.

As a effect of the breakout, the 10/25 time moving averages marginally crossed, and this was the archetypal upward transverse since precocious December.

THETA/USD – Daily Chart

Price spot besides broke caller ground, with the 14-day RSI moving to 62, aft moving past its semipermanent ceiling of 59.

THETA is inactive astir $4 distant from its all-time precocious (ATH).

Biggest losers

Due to accrued levels of volatility, markets chiefly consolidated and determination were not galore sizeable losers.

However, for a 2nd consecutive time LEO traded lower, arsenic bear’s inactive look to beryllium capturing profits, pursuing Tuesday’s 50% rally.

LEO/USD, was trading astir 7% little arsenic of writing, arsenic prices look to beryllium heading towards its erstwhile absorption level astatine $5.36..

Should we scope that point, the question volition undoubtedly beryllium volition a caller level beryllium formed, oregon volition prices proceed to escaped fall.

LEO/USD – Daily Chart

The 14-day RSI presently sits astatine a enactment of 64, however, should this break, it could beryllium the motion bears request to summation downward pressure.

Could LEO recapture this week’s highs arsenic we caput into the play ? Let america cognize your thoughts successful the comments.

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