Looking at the weekly chart of $THETA /USDT on Binance, we can see this coin has been on quite a rollercoaster. After a strong rally that peaked around $3.82, it’s been on a steady downtrend, giving up most of its gains and now sitting near $0.78. The recent green candles suggest a short-term bounce, but let’s not get too excited just yet—this move appears more like a relief rally rather than a trend reversal.
The price is still trading well below its moving averages (MA5 and MA10), and the longer-term trend remains bearish. Volume spikes during downtrends also show that sellers are still quite active. On top of that, over the past 90 days, the price has dropped a massive 58.87%, and over the year, it’s down 66.21%. These are signs of a prolonged bearish sentiment.
However, there’s a glimmer of hope. The recent low around $0.71 held up, and the price has climbed over 6% today. If this upward momentum continues and volume supports it, we could see THETA retest the psychological resistance near $1.00. But for that to happen, it must break above the short-term resistance at $0.81 and sustain that level.
In the short term, traders might play the bounce, but from a broader perspective, THETA is still in a bearish structure. It would need to make a clear higher high and higher low to signal any meaningful trend reversal. Until then, caution is key. This might be the calm after the storm—or just the eye of it.
