THETA flashed the sell signal in the TD sequential in its 12-hour chart. THETA had a bullish breakout from the cup and handle pattern in the daily chart. THETA flew up from $0.55 to $0.64 over the course of the day, reaching all-time high levels. However, the monthly chart has started flashing a sell sign. Along with the TD sequential, the relative strength index (RSI) in the monthly chart has crept into the overbought zone, showing that the asset is currently overvalued. So, are we going to see a reversal here? Let’s check out some of the other charts. THETA/USD daily chart The daily chart has charted a cup and handle pattern, from which the buyers enjoyed a bullish breakout. However, the RSI is trending on the verge of the overbought zone as the price looks to open the doors for short-term bearish correction. To see how much the correction will be, let’s check the IOMAP. THETA IOMAP IntoTheBlock’s “In/Out of the Money Around Price” (IOMAP) model estimates that $0.564 plays a crucial role in THETA’s trend. Transaction history shows that this is the largest supply barrier underneath THETA. Previously, seven addresses had bought 40.29k THETA. On the upside, the price lacks healthy resistance levels since its currently in all-time high positions. So, if the price does drop, it will fall till $0.564, where the healthy support wall should be able to absorb the selling pressure. However, if the bears turn out to be more relentless, the price has space to drop till $0.5545, before it encounters another healthy support level. THETA 12-hour chart The THETA 12-hour chart shows that the MACD market momentum has reversed from bearish to bullish. However, the price has jumped above the 20-day Bollinger Band, which again indicates that the asset is presently overvalued and should face bearish correction. There is a mixture of different technical indicators, giving us a host of various clues as to what to expect next. Verdict So, what can we expect the price to do? Different signs show us that we will see some short-term bearish correction as of now. Various indicators tell us that THETA is presently overvalued in these current levels. However, as you know, it’s impossible to predict these things with 100% certainty. Cryptocurrencies are, after all, heavily governed by speculation. So, if the bulls do retain control, the IOMAP tells us that there is quite a lot of space growth as THETA hovers into hitherto uncharted territory. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next NZD/JPY Price Analysis: 3:1 R/R setup to the upside FX Street 2 years THETA flashed the sell signal in the TD sequential in its 12-hour chart. THETA had a bullish breakout from the cup and handle pattern in the daily chart. THETA flew up from $0.55 to $0.64 over the course of the day, reaching all-time high levels. However, the monthly chart has started flashing a sell sign. Along with the TD sequential, the relative strength index (RSI) in the monthly chart has crept into the overbought zone, showing that the asset is currently overvalued. So, are we going to see a reversal here? Let’s check out some of the other charts. THETA/USD… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.