LEO fell for the second straight session as volatility in the crypto market was higher on Thursday. THETA ignored this uncertainty and rose nearly 20% today.
biggest winner
Following the turbulent trading session today, the global cryptocurrency market capitalization was able to climb and was up around 1% at the time of writing. .
Leading the gains was the theta network (THETA), which was trading 18.87% higher at press time, nearly double its closest bull secret (SCRT).
THETA traded at a low of $3.33 on Wednesday, having climbed to an intraday high of $4.11 earlier today.
The move took THETA/USD above resistance at $3.48 that has been in place since Jan. 22.
As a result of the breakout, the 10/25-day moving averages crossed slightly, the first upward crossover since late December.
Stronger prices also broke new ground, with the 14-day RSI rising to 62 after breaking the long-term ceiling of 59.
THETA is still about $4 away from its all-time high (ATH).
biggest loser
Markets are largely consolidating due to increased volatility, and there are not many significant losers.
However, LEO traded lower for the second day in a row as bears appear to be still taking profits after Tuesday’s 50% rally.
LEO/USD is down around 7% at the time of writing as the price appears to be heading towards the previous resistance at $5.36.
If we get to this point, the question will undoubtedly be whether a new bottom line will form or prices will continue to free fall.
The 14-day RSI is currently at the support level of 64, but if this level breaks, it could signal that the bears need to add more downside pressure.
Can LEO recapture this week’s highs as we head into the weekend? Let us know your thoughts in the comments.
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