Theta is recovering from a huge sell-off over the past weekend and could climb back toward $13 in the coming hours
The broader crypto market suffered heavy losses over the weekend, with Bitcoin losing more than 10% of its value within an hour. Bitcoin’s price dropped toward the $52,000 level before beginning a gradual recovery.
As expected, Bitcoin’s decline triggered a domino effect across the crypto space, pushing Theta down from the $15 level to trade below $10. The market is slowly recovering, and the THETA/USDT pair is now aiming to push above $13.
THETA price outlook
THETA experienced significant losses during the weekend but has started an upward recovery in recent hours. At the time of this report, THETA is up roughly 12% against USDT over the past 24 hours as it targets its previous peak of $15.93.
Looking at the THETA/USDT 4-hour chart, indicators are shifting toward a bullish bias. THETA is trading well above its 100-day simple moving average of $6.119, while its RSI sits above 50, suggesting bulls may continue their upward push.
THETA/USDT 4-hour price chart. Source: Coinalyze
The MACD line remains in bearish territory, likely reflecting the substantial weekend losses. However, if the THETA/USDT pair can establish firm support around the $11.40 level, it could fuel a stronger rally and attempt to reach $13 before the end of the day.
A sustained rally could push THETA past the $13.23 resistance and toward $15. However, the cryptocurrency will likely need broader market strength to overcome subsequent resistance levels and retest its all-time high of $15.93.
Conversely, if the recent recovery falters, THETA could decline again, and bulls would need to defend strong support near $9.90.