Theta price faces stiff resistance from the 161.8% Fibonacci extension level at $11.34. Momentum Reversal Indicator (MRI) has flashed a “preemptive top” signal, suggesting that the rally might be coming to an end. A decisive daily candlestick close above $11.34 could invoke a bullish scenario for THETA. Theta price rally might come to an end soon as it approaches a significant resistance zone combined with a sell signal. Theta price approaches overhead barrier Theta price has increased 300% in less than a month. However, this bull run could be coming to an end as THETA is nearing another crucial point in its upswing, the 161.8% Fibonacci extension level at $11.34. The MRI indicator flashed a “preemptive top” in the form of a yellow down arrow on the 1-day and the 1-week chart. This setup forecast a one-to-four candlestick correction. Therefore, a combination of the 161.8% Fibonacci extension and the MRI indicator’s “top” signal could play a critical role in putting an end to THETA’s bull rally. If the correction were to playout, Theta price could retrace 15% to $9.2. An overwhelming bearish pressure could extend this pullback by another 9% to $8.30. THETA/USDT 1-day, 1-week chart On the flip side, investors need to understand that sell signals tend to go bust in a strong bull trends. Moreover, the MRI’s sell signal is “preemptive” and has a chance of going bust. If this were to happen, then Theta price could quickly surge past the $11.34 barrier coinciding with the 161.8% Fibonacci extension level. A decisive close above this point could see Theta price ascend 41% to 200% Fibonacci extension level at $16.01. 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 USD/CAD Price Analysis: Bulls await a move beyond 50% Fibo. resistance, around mid-1.2500s FX Street 1 year Theta price faces stiff resistance from the 161.8% Fibonacci extension level at $11.34. Momentum Reversal Indicator (MRI) has flashed a "preemptive top" signal, suggesting that the rally might be coming to an end. A decisive daily candlestick close above $11.34 could invoke a bullish scenario for THETA. Theta price rally might come to an end soon as it approaches a significant resistance zone combined with a sell signal. Theta price approaches overhead barrier Theta price has increased 300% in less than a month. However, this bull run could be coming to an end as THETA is nearing another crucial point… 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.