Theta Network (THETA) is rising without a break: Pay attention to these levels!

THETA price rose by 29 percent to reach $3.08, hitting the highest level in the past 12 months.

The market value of the popular altcoin reached 3.10 billion dollars, while its 24-hour trading volume increased by 351 percent. Theta Network (THETA) displayed a strong upward trend in the last 24 hours, pushing its price to 3.08 dollars. The popular altcoin, which rebounded from 2.28 dollars during the day, increased its market value by 25 percent to 3.10 billion dollars. At the same time, its 24-hour trading volume surged by 351 percent to 548.37 million dollars. This strong surge has attracted significant interest among investors and analysts.

What is the latest status of Theta Network (THETA)?

THETA, which recorded a remarkable 29% increase in the last 24 hours, demonstrated a strong rise by surpassing $2.40. By the end of the day, THETA also showed a 59% growth on a weekly basis, surpassing $3 from $2.10. This increase is interpreted by analysts as the beginning of a major rally.

According to Onchain data, the derivative trading volume at this breakout point increased by 420% to reach $983.06 million. At the same time, open positions increased by 75.35% to $108.91 million.

Analysts forecast a 348% increase

Technical analysts believe that THETA has the potential for further price increase. According to crypto analyst World of Charts, the breaking of the descending triangle formation is expected to bring the price to $9. This indicates a 348% increase from current levels. Measurement from the base of the triangle supports this positive view.

Another crypto analyst, Javon Marks, stated that THETA has reversed its downward momentum by breaking its long-term trend line. Marks said, "Sharp rise and higher peaks indicate that bulls have taken control and the rally could last up to $8 in the short term."

This article does not contain investment advice or recommendations. Every investment and trading activity carries risks, and readers should conduct their own research when making decisions.