Should you buy THETA in June?

Should you buy THETA in June?
фото показано с : invezz.com

2021-6-10 23:21

The cryptocurrency market is advancing this Wednesday, Bitcoin has advanced above $36000 resistance, but traders should keep in mind that the risk of another decline is still not over. THETA/USD has weakened from the record highs above $15, registered on 16th April, below $4, and the current price stands around $9.

Fundamental analysis: Theta will increase transaction fees

Theta is a decentralized peer-to-peer network that was launched in 2019 year, and according to Steve Chen, Co-Founder of YouTube, this network could improve the video streaming industry. Theta offers better video delivery from esports, music, movies to distance learning at lower costs.

Theta offers higher quality and smoother video streaming while also motivates all stakeholders to participate in video delivery, fully decentralized. Theta has experienced tremendous growth in its user activity this year, and in order to better align value with the transaction volume on its blockchain, a moderate increase of fees on this protocol is necessary.

“Currently, the fees on the Theta network are near zero, and after the proposed increase would still be sufficiently low and cost-effective for smart contracts and Dapps with transaction fees of 0.3 TFUEL for send transactions, 20 TFUEL to deploy a smart contract, and 1 TFUEL to interact with a smart contract,” Theta team had reported last week.

The Theta transaction fee increase will be included in the next protocol update, but even with this increase, the transaction fee increase is still 90% lower than the current fees on Ethereum. Theta (THETA) price has skyrocketed since March 2021 and reached a record high above $15 on 16th April. Since then, the price has collapsed, daily trading volume has weakened, and the risk of further declines is probably not over.

The cryptocurrency market is advancing this Wednesday, but probably it is not the best moment to invest in THETA. There are lots of negative news for the cryptocurrency market recently, and the concerns among traders are that it may take a long time for prices to see any bigger recovery.

Technical analysis: The risk of further declines is probably not over

The cryptocurrency market remains under pressure, the price of THETA can easily back below the $6 support, and probably it is not the best moment to invest in this cryptocurrency.

Data source: tradingview.com

THETA currently trades around the $9 level, but it would be a strong sell signal if the price falls below $8 support. The next price target could be around $6 or even $5; still, if the price falls jumps above $10, we have the open way to $12.

Summary

Theta (THETA) has weakened from the record highs above $15, registered on 16th April, and the risk of further declines is probably not over. According to the latest news, Theta will increase transaction fees, but even with this increase, they are still 90% lower than the current fees on Ethereum.

The post Should you buy THETA in June? appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Theta Token (THETA) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.637
Капитализация $0 Rank 99999
Цена в час новости $ 8.806 (-100%)

above should theta highs still record weakened

Источник: invezz.com

above should → Результатов: 126


Фото:

While bitcoin struggles, XRP continues to rise: should you buy XRP now?

XRP (XRP/USD) has gained 10% on Tuesday and was seen trading above $1.60. Just one month ago XRP price was at $1.32, which means that it is also up more than 20% over the past month.  Why is XRP benefiting from buying momentum amid a broader selloff in cryptocurrencies? Let’s take a look and then […] The post While bitcoin struggles, XRP continues to rise: should you buy XRP now? appeared first on Invezz.

2021-5-19 21:28


Фото:

Polkadot crashes to $13 as the crypto market retraces: What’s next for DOT?

Polkadot recorded a day of massive gains that brought its price above $30. However, the recent market downturn brought a massive red candle for DOT. What should you expect next, and should you buy some DOT now? Fundamental analysis: Rococo upgrade brings more positive sentiment to Polkadot Polkadot has experienced a major week-over-week price increase, […] The post Polkadot crashes to $13 as the crypto market retraces: What’s next for DOT? appeared first on Invezz.

2021-2-23 22:02


Фото:

Cosmos creates new all-time high: What’s next for ATOM

Cosmos (ATOM) had a day full of volatility, with the daily candle going from just above $14 all the way to $24.5, and then back to $22.7. What’s the reason behind this price fluctuation, and should you buy some ATOM now? Fundamental analysis: strong fundamentals led Cosmos to substantial month-over-month gains Cosmos’ origins can be […] The post Cosmos creates new all-time high: What’s next for ATOM appeared first on Invezz.

2021-2-16 22:18


Фото:

Why the Bitcoin Correction Everyone is Waiting for May Take Some Time

Bitcoin has navigated higher following a brief period of immense weakness yesterday, with the cryptocurrency now pushing above the $23,000 region once again Where the entire market trends in the mid-term should depend largely on where ETH and BTC trend next, as they both have been holding firm guidance over altcoins Many investors and analysts have voiced the opinion that Bitcoin will see a strong and swift correction down towards the $19,000 region at some […]

2020-12-23 21:00


Bitcoin Sets New All-Time Highs Above $20,000; Leaves Trail of Bear Blood

Bitcoin is officially trading at fresh all-time highs, with the crypto’s price racing as high as $20,800 this morning before losing some momentum and hovering just below this level Where the crypto trends in the mid-term should depend largely on whether or not it can turn this momentum into another parabolic uptrend One trader believes that this is a strong possibility, and could be induced by an imminent short-squeeze The break above $20,000 has put […]

2020-12-17 17:47


Фото:

Risk for Bulls: Bitcoin Miners Begin Aggressively Selling Holdings

Bitcoin’s price action as of late has been rather lackluster, with bulls struggling to hold it above $18,000 as selling pressure mounts Where the crypto trends in the mid-term should depend largely on the continued reaction to the support at $18,000 If the crypto is unable to hold above this level, it could bear witness to some intense selling pressure that sparks a move down towards $17,000 There is some support at roughly $17,600 that […]

2020-12-11 02:00


Фото:

Analyst Claims Ethereum is Almost Ready to See a Massive Markup to $800

Ethereum has been struggling to break free of its connection to Bitcoin, with the benchmark cryptocurrency having massive control over its price action This has so far been quite bearish for ETH, as it has caused the cryptocurrency to see notable losses on multiple occasions Where it trends next should depend largely on whether or not bulls and bears can hold BTC above $18,000, as a dip below this level could be grim One trader […]

2020-12-11 23:00


Фото:

Ethereum’s Macro Outlook Shapes Up as Technical Strength Grows

Ethereum has been closely tracking Bitcoin as of late, which has caused it to see some consolidation Where the crypto trends in the mid-term should depend largely on ETH’s continued reaction to the $600 region Just as $19,000 is a key level for Bitcoin at the present moment, $600 is a crucial level for ETH, as breaks above this level often lead to inflows of buying pressure Where the cryptocurrency trends in the days and […]

2020-12-7 23:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Top NFT platform coins to invest in before 2022 ends

Flow (FLOW/USD), Theta Network (THETA/USD), and Tezos (XTZ/USD) are some of the largest platforms for the creation and minting of non-fungible tokens (NFTs).   The Japanese gaming Giant Square Enix invested 7 billion yen ($52.

Is there hope for Theta token as the year comes to an end?

Theta token has lost 94% of its value from its ATH The cryptocurrency was rejected at the $1 resistance and is correcting THETA could end the year below $1 if a breakout does not occur at the crucial resistance All cryptocurrencies are in tatters, at least for now.

Top altcoins to watch in November

October was a strong month for Bitcoin and other altcoins as their prices rebounded.  Ethereum, the biggest altcoin, rose from about $1,200 and reached a high of $1,600 in October. This recovery was helped by the rising hopes that the Federal Reserve will start pivoting.