📹THETA- Squeeze is coming, 200EMA chopThe price is consolidating on 200EMA/node of big volume in an ascending triangle formation, preparing for a next move. It is additionally supported by nearby (and recently touched) zone of support(green) and dynamic support(orange). If this time THETA could break dynamic resistance (blue dashed) and key level resistance (7.25) we could then hope for some consolidation under major resistance, which could lead to a breakout, and possibly the beginning of a new uptrend. But it's too early to speculate, for now the ultimate goal is to break local resistances.
Entry: buy at current price
Targets:
7.25
7.59
8.32
9.93
11.01
13.22
14.97
15.91
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About THETA:
Theta (THETA) is a blockchain powered network purpose-built for video streaming. Launched in March 2019, the Theta mainnet operates as a decentralized network in which users share bandwidth and computing resources on a peer-to-peer (P2P) basis.The project is advised by Steve Chen, co-founder of YouTube and Justin Kan, co-founder of Twitch.
Theta features its own native cryptocurrency token, THETA, which performs various governance tasks within the network, and counts Google, Binance, Blockchain ventures, Gumi, Sony Europe and Samsung as Enterprise validators, along with a Guardian network of thousands of community-run guardian nodes.
Developers say that the project aims to shake up the video streaming industry in its current form — centralization, poor infrastructure and high costs mean that end users often end up with a poor experience. Content creators likewise earn less revenue due to the barriers between them and end users.
Source: coinmarketcap
