THETA Hits 3-Month High After Gaining 17% on Friday – Market Update Bitcoin News

The Theta network traded at a three-month high on Friday as the price broke a key resistance level. Today’s move comes as the cryptocurrency market is mostly higher intraday, up 2.86% as of this writing. Near protocol rose 17%, also hitting a multi-month high.

Theta Network (THETA)

Theta Network (THETA) was one of Friday’s notable gainers, as prices rose nearly 16% in today’s trade.

Friday’s surge took the coin to an intraday high of $1.65, less than 24 hours after it traded at a low of $1.37.

Today’s rally has seen THETA/USD climb to its highest since May 11, when the price peaked at $1.84.

Biggest mover: THETA hits 3-month high, up 17% on Friday
THETA/USD – Daily Chart

Looking at the charts, the move came as THETA broke above its key resistance level at $1.57, two days after its last attempt to cross the barrier.

Meanwhile, the Relative Strength Index (RSI) has also breached the upper limit of 62, tracking a level of 65.30 at press time.

This is the highest price strength since April and comes as THETA enters overbought territory.

Therefore, the bears are likely to re-enter the market in the upcoming session.

Near Agreement (NEAR)

On Friday, Near Protocol (NEAR) traded even higher than THETA, with the token gaining as much as 17%.

After hitting a low of $4.33 on Thursday, NEAR/USD reached a high of $5.19 earlier in the day.

Like THETA, the high came close to the agreement breaking out of its long-term resistance at $4.80.

Biggest mover: THETA hits 3-month high, up 17% on Friday
NEAR/USD – daily chart

That ceiling has been in place since June 10, the start of a five-day bearish streak that pushed prices to a low of $3.11.

Since rebounding from these declines, the 14-day RSI has fallen from a low of 36.51 on June 14 to 68 now.

As such, the price is now overbought, although the bulls seem keen to move higher as they target a ceiling at $5.55.

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Despite being overbought, do you expect a further surge close to a deal? Let us know your thoughts in the comments.

Elijah Danbell

Eliman brings an eclectic perspective to market analysis, having served as a brokerage director, retail trading educator and market commentator for cryptocurrencies, stocks and foreign exchange.




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