Market Overview for Theta Network/Tether (THETAUSDT) – 2025-11-04

Summary
• THETAUSDT declined over the 24-hour period, ending at 0.422, below the prior day’s close.
• Price tested key support at 0.418–0.42, with a temporary rebound to 0.433 in the overnight session.
• Volume surged at 0.42–0.433 levels, highlighting accumulation or distribution activity.

Theta Network/Tether (THETAUSDT) opened at 0.424 on 2025-11-03 at 12:00 ET, reached a high of 0.434, and a low of 0.412 before closing at 0.422 as of 12:00 ET on 2025-11-04. The pair saw a total volume of 8,267,412.1 THETA and a notional turnover of approximately $3,462,584.11 over the 24-hour window.

On the 15-minute chart, THETAUSDT appears to have formed a bearish pattern around 0.43–0.434, characterized by a failed bullish breakout followed by a pullback. This suggests bearish control in the short term. Key support levels identified over the past 24 hours include 0.418–0.42 and 0.406–0.409, with the 0.42–0.422 level acting as a recent pivot point. A bearish engulfing pattern emerged around 0.42–0.423, signaling potential further downside.

The 20-period and 50-period moving averages on the 15-minute chart crossed below the price during the overnight session, indicating short-term bearish momentum. On the daily chart, the 50, 100, and 200-day moving averages are all aligned lower, reflecting a longer-term bearish trend. The RSI has moved into oversold territory near 30 during the last few hours, suggesting potential short-term support and a possible bounce from 0.412–0.415. MACD crossed into negative territory with a bearish signal, reinforcing the bearish sentiment.

Bollinger Bands indicate moderate volatility, with the price hovering near the lower band at 0.412–0.416, suggesting a possible bounce or continuation of the downtrend. The 38.2% and 61.8% Fibonacci retracement levels from the recent high of 0.434 to the low of 0.412 sit at 0.427 and 0.420 respectively, with price currently consolidating near the 61.8% level.

Volume and turnover surged at key levels between 0.42 and 0.433, with a sharp drop-off below 0.418. This could indicate either accumulation for a potential rebound or distribution ahead of further decline. Price and turnover appear to be aligned in the 0.42–0.433 range, with divergence emerging below 0.418.

Backtest Hypothesis
The backtesting strategy aimed to identify occurrences when THETAUSDT’s daily close fell within the 0.412–0.415 support zone. However, the dataset returned no valid instances over the period from 2022-01-01 to 2025-11-04, making it impossible to calculate a return series. This could imply one of two things: either the 0.412–0.415 level is not a significant enough support to be tested frequently, or it has only recently become a focal point. A potential solution could involve broadening the support range (e.g., to 0.400–0.420) to capture more actionable data points or narrowing the historical window to 2023–2025, where price behavior has likely evolved. Alternatively, testing a different technical condition—such as price hitting the lower Bollinger Band or key Fibonacci levels—could yield more meaningful results.

The forward-looking view suggests that THETAUSDT may test 0.418–0.42 over the next 24 hours for confirmation of bearish momentum or a potential bounce. Investors should monitor the 0.42–0.422 level closely for signs of stabilization. While the RSI is in oversold territory, caution is warranted due to the strong alignment of moving averages and MACD suggesting continued downside pressure.