Market Overview: Theta Network (THETAUSDT) 24-Hour Technical Summary

• Theta Network (THETAUSDT) closed near 0.775, down from 0.791, marking a bearish reversal in late trading.
• Price broke below a key 15-minute support at 0.78, with a 16% drop in volatility and weakening momentum.
• High turnover in the 0.78–0.80 range suggests accumulation or distribution, but volume diverged from price.
• RSI entered oversold territory, while MACD turned negative, hinting at further downside potential.
• Bollinger Bands constricted sharply in the last 6 hours, pointing to a possible breakout below 0.775.

Theta Network (THETAUSDT) opened at 0.791 on 2025-08-20 at 12:00 ET and closed at 0.775 on 2025-08-21 at 12:00 ET, reaching a high of 0.802 and a low of 0.773. Total 15-minute volume over 24 hours was 2,680,319.0 units, with a notional turnover of approximately $1,368,826 (calculated using mid-candle prices).

Structure & Formations

Price action in the 15-minute chart formed a bearish engulfing pattern at the 0.796–0.792 level, followed by a confirmed breakdown below key support at 0.780. A 15-minute doji appeared near 0.776, indicating hesitation. The 24-hour low at 0.773 may now serve as a short-term floor, though it is not a strong Fibonacci level.

Moving Averages

On the 15-minute chart, the price closed below the 20- and 50-period moving averages, suggesting bearish bias. On a daily basis, the 50- and 100-period moving averages are converging near 0.792–0.794, forming a potential key resistance cluster. The 200-period MA, at ~0.788, may now act as a dynamic resistance ahead of 0.80.

MACD & RSI

MACD turned negative by the close, signaling waning bullish momentum. RSI reached 28, entering oversold territory, though not deeply so, which may delay a rebound. There was no divergence between RSI and price, suggesting continued downward pressure. However, a rebound could be expected if RSI crosses back above 30.

Bollinger Bands

Bollinger Bands constricted sharply between 0.775 and 0.795 in the last 6 hours of data, indicating a potential breakout. Price currently sits near the lower band at 0.775, pointing to a high probability of continued downward movement or consolidation.

Volume & Turnover

Trading volume spiked in the 0.78–0.80 range during the morning ET hours, but the price failed to hold above 0.795, indicating possible profit-taking or selling pressure. Turnover dropped significantly after the breakdown below 0.78, suggesting a lack of follow-through in the bearish move.

Fibonacci Retracements

A key 15-minute retracement level at 0.785 (38.2%) was rejected, followed by a breakdown at 0.780 (61.8%). Daily Fibonacci levels suggest that 0.775 (61.8% from the recent high at 0.802) could be a near-term target. A break below this level could extend the move toward 0.768–0.770.

Over the next 24 hours, THETAUSDT may test the 0.773 low again before consolidating or finding a rebound, though the bias remains bearish in the short term. Investors should watch for volume confirmation on any rally and be cautious of a possible breakdown below 0.775, which could signal a broader bearish phase.