Crypto is known for its volatility, and Theta Network (THETA) is no exception. As an emerging blockchain platform designed for video streaming, among other things, Theta has garnered  lot of attention from investors and traders alike. To understand the price trend of THETA, it's crucial to consider various factors that can influence its value. However, I try not to overcomplicate the analysis, and therefore please DYOR. Also, do not invest money into crypto that you cannot afford to lose. Buying crypto on a credit card, for example, would be a very bad choice in my view.

Firstly, market sentiment plays a pivotal role for any crypto price and my feeling is the market has generally been positive with regard to Theta..

Secondly looking at the fundamentals which usually involves evaluating the underlying factors that affect the supply and demand of THETA like the network's user adoption rate, the success of its use cases, and the overall growth of the blockchain ecosystem etc, while a must, let's look at the market capitalisation, which sits at a healthy US$ 2+ billion with one billion coins in circulation, I would wager the fundamentals are sound.

Thirdly, let's do a bit of technical analysis to predict price movements. Look at the historical price chart below, I've left out the various common indicators to make it simple (I usually have moving averages and relative strength indexes)

Very clearly, after the sudden jump in March, there has been a steady decline though not without it's ups and downs with many opportunities for entry. We can see that THETA has experienced both uptrends and downtrends. The current movement suggests an uptrend. However, support levels, such as such as the $2.07 it is on now, could serve as strong chair for the coin to sit on. If broken, the sell-off may extend to lower levels, but nothing indicates it will sink to pre-March levels.

While THETA's price has been influenced by the general trends in the cryptocurrency market with a bearish move in Bitcoin often leading to a downturn in the price of THETA, it might be a good idea for the shorter term to look at how it has performed over the last week.

As we see in the four hour chart over the last week, THETA seems to be bouncing on the 2.076 support line, and the most recent (as of this writing) is an uptrend.

What do I do?

I believe that this would be a good point for me to enter for short term gains into THETA, so I will be going long with this chart, and other analysis. In fact, with a larger holding power (I am talking of months to years), THETA is a promising asset and I cannot see it losing value, so I am buying/holding. Feel free to comment below.

Disclaimer: This article (by me, Rumjus) is for informational purposes only. It is based on my personal (and anecdotal) experience. None of the content is financial advice. Readers are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks with crypto currency (and any other) investments. I am not liable for any financial losses you incur. Cryptocurrency markets are highly volatile and the possibility of investments tanking is higher than traditional investment instruments. The cryptocurrency space is also riddled with scams and actors with nefarious intent, so the possibility of losing your money is very real.I am not liable for any loss you may suffer.