• Theta network (THETA), is currently down by 5.81% for the day and 16.03% during the week.
• THETA’s position against Bitcoin and Ethereum has been weakened as well.
• The price of THETA is expected to continue falling if we only look at the daily charts.

Theta network (THETA) fell 5.81% over the past week and was down 16.03% during the week according to CoinMarketCap.

THETA has a price of $2.55 as of the writing of this article and a market cap at $2,554,521.275. The 41st most important crypto project according to total market cap is THETA, slightly behind Tezos and The Sandbox (SAND). ().

THETA’s 24-hour trading volume has seen an additional 15.72% rise in 24 hours. This amounts to approximately $166,084,447.

The THETA also has weakened in comparison to Bitcoin (BTC), and Ethereum (ETH). The value of one THETA is 0.00006677 BTC, and 0.0009124 ETC. The BTC is down by 2.86%, while the strength of Ethereum drops by 1.86%.

The bear market in THETA is likely to continue (Source : TradingView

Daily chart of THETA shows that the past week was dominated by sell volume. Buy volume has been outpaced 3 times in 5 of these last five days. The last two to three weeks saw a bearish Exponential Moving Average and (EMA), cross between the 50 EMA (15 EMA) and the 15 EMA. This indicates that THETA is in a bearish short-term period.

MACD, histogram and other technical indicators confirm that THETA is in a bearish pattern on the daily charts. The histogram has been busy decreasing negatively.

Also, it seems that the 15 EMA is breaking off from the 50 EMA, which was crossed recently. With the gradient of 15 EMA indicating this, the breakaway may be more likely to continue, driving the price down.

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