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.

Technical Analysis: THETA surges 20% while LEO falls again
THETA/USD – Daily Chart

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 to this point, the question undoubtedly be whether a new bottom line will form or prices will continue to free fall.

Technical Analysis: THETA surges 20% while LEO falls again
LEO/USD – Daily Chart

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.

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Can LEO recapture this week’s highs as we head into the weekend? Let us know your thoughts in the comments.


Eliman Dan Bell

Eliman brings a diverse perspective to market analysis, having served as a brokerage director, retail trading educator and market commentator for cryptocurrencies, stocks and foreign exchange.

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