As more tokens continue to feel downward pressure in the crypto market, Theta Network (THETA) has actually been surging over the last few days. Although some of this growth has been driven by improved sentiment in crypto, there is some other important news. Here are some highlights first:
At the time of writing, Theta Network (THETA) was trading at $3.06, up nearly 7% over the last 24 hours.
Investors are awaiting the launch of TDROP, an NFT platform expected to operate on the Theta Network (THETA) in the coming days.
The improved investor appetite has also been felt by THETA Fuel which has surged by over 10% as well in 24 hours.
Data Source: Tradingview.com
Theta Network (THETA) – Where will the price go
The launch of TDROP is actually big. In fact, we have seen THETA gaining a lot even before the news becomes official. We expect the token to surge even further once the news is announced. The recent rally also comes after THETA crashed to monthly lows of around $2.27 about a week ago.
But in the last three days or so, most of these losses have been paired. In fact, THETA is trading above 30% from its lowest price recorded this year. But despite this, the price action is still below the 25- and 50-day moving averages. We are also watching to see if THETA can test overhead resistance of $3.8 in this current surge.
Why you should buy Theta Network (THETA)
The Theta Network (THETA) is perhaps one of the more underrated blockchain projects with a lot of potentials. Besides, we have also seen the network add a lot of innovative features to its ecosystem. The TDROP NFT platform is just one of them. The future is of course bright for Theta Network (THETA), and this is an ideal time to buy it.
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