Investors should watch the token over the next few days. Already, THETA has shown the likelihood of a breakout. Our assessment suggests that a break above $1.45 will confirm bullish momentum. Moving averages and MACD indicators show a bullish momentum for THETA. That makes the consolidation zone a level to watch. Nonetheless, the $1.45 resistance has always taken the price back for every surge. It suggests sellers’ exhaustion and the potential entry of buyers. The token has held to this key level since May. On the daily chart technical outlook, Theta token has been very stable above $1.06 support. But is the token bullish now? Theta trapped in a consolidation zone despite latest gains Recent gains attest to expectations of a price pump. However, once Theta proves its course, it is bound to rise. Protocols such as Axie Infinity have been preferred by gamers. The booming metaverse applications with almost everything in virtual space have also been a threat. It is yet to live to the hype of being a YouTube rival. This year, however, Theta has been beset with challenges. That was evident mid-last year when the network saw exponential growth. By becoming the next-generation video blockchain network, Theta will rival YouTube. Theta Network promises to revolutionize video streaming through the blockchain network. The gains consider that THETA has been relatively subdued despite other cryptocurrencies surging. The gains in the last 24 hours were 2.46% as of press time. Theta Network token THETA/USD has returned more than 20% in the past one week. Theta token has pumped 20% but remains in consolidation mode.The network faces competition from other networks.Theta network has been touted as a next-generation video streaming platform.
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