THETA tokens have reached new peaks, but is now the right time to buy?
As candles become greener and greener, people are confronted with FOMO (fear of losing the opportunity), barbarism, and emotional prejudice against the powerful rallies of the Altcoins. Where have we seen this situation before? During the pre-Halving rally, traders and investors were eager to enter the market for $ 10,000. In this regard, the following chart (Figure 1) shows the sharp growth of THETA in recent months.

Figure 1: THETA / USD 2-day chart

THETA fell 80% in March, after which low prices were repeatedly tested and supported. Since that fall, support / resistance levels have been tested several times, confirming the continuation of the upward trend. One of these levels is at $ 0.068 and the other at $ 0.125. However, in recent days, altcoins have gained considerable speed and acceleration due to increased momentum and buzzing. Today, Binance announced that the exchange supports the upgrade of Theta token network. Now the question is, is this another example of "buy rumor, sell news"?

After such a large rally, price correction is in dire need. The left side of the chart shows a similar upward trend, after which the price for testing support levels has fallen. Therefore, buying these quinces at this time is not reasonable despite their high growth. Gray areas are $ 0.155-0.165 and $ 0.237 are considered important areas to follow in the chart. The first area to follow is the resistance / support level of around $ 0.165.

The THETA / BTC pair tests the high range

Figure 2: THETA / BTC 2-day chart

The THETA / BTC pair shows a wide chart. Suffering support was established at 0.00001000 Satoshi, after which the price went up. As the chart shows, this range has been tested several times before at high levels. Does this mean that this Queen is now in the right place to enter? No, it is dangerous to enter now, especially with the previous example. A similar process took place last year. The main point of entry at the time of correction is 0.00002000-0.00002050 Satoshi. However, such a correction could take some time.

Theta Fuel grew by 1,100 percent in one week

Figure 3: 1-day TFUEL / BTC chart

The second token platform, Theta Fuel (TFUEL), launched a significant rally at the same time as the main token last week. However, when traders look at this chart, they should be aware of the dangers of entering this token. As mentioned, large movements like this take time to maintain their surface. These movements are usually with a strong atmosphere and FOMO. Are strengthened.

The announcement of the Minnet (test network) on May 25 can be interpreted as the highest possible price. Figure 3 shows the potential entry areas for traders. If the price level of 0.00000155-0.00000160 maintains Satoshi as support, a new rally may be created towards the 0.00000240-0.00000000280 Satoshi range. However, with the loss of support level at 0.00000155 Satoshi, further price correction is predicted. The gray area between 0.00000070-0.00000100 Satoshi is an important level of support.

Will this be the case for other altcoins?
These rallies are more likely to be seen in other altcoins. Various arguments have been put forward for this claim. One of them is the successive shifts above the 100-day and 200-day moving averages in many altcoins. Another argument is to reduce bitcoin fluctuations, as bitcoin is floating in a range of range and is unlikely to go out of bounds any time soon. Due to Halving Bitcoin, investors' excitement in the market has generally increased, which is very good for Altquin days. This trend is expected to continue in the coming period.

Figure 4: 4-hour BTC / USDT chart

What can be expected from the price of Bitcoin? The chart (Figure 4) clearly shows a neutral range in which the price failed to break the resistance level at $ 9,800-10,100. Since then, Bitcoin has dropped to $ 9,300 and started its downward trend, while prices are now approaching supportive and low-suffering areas. An important area to follow is the $ 8,400-8,600 support. As long as the $ 8,400-8,600 support level remains, an upward jump is likely to occur. In this regard, the price will be maintained and will remain within the suffering structure. As long as Bitcoin continues to suffer in this structure and has fewer fluctuations, markets will be ideal for continuing the movement of altcoins.