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Is Theta (THETA) a November Buy or Sell?

The price of theta (THETA) has gone from $ 0.10 to over $ 0.79 in less than six months, and the current price is $ 0.60. The Theta Project is still uncertain, but if the price jumps above $ 0.80 the next target could be $ 0.90 or even $ 1.

Fundamental Analysis: Theta Could Make The Video Streaming Industry Better

Launched in March 2019, Theta is a decentralized peer-to-peer network that can offer improved video delivery at a lower cost. Theta has its own cryptocurrency THETA and the project is advised by Steve Chen, co-founder of YouTube.

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The total offer at THETA is limited to 1 billion tokens and is distributed in different proportions to all network participants.

“Theta’s innovation will disrupt today’s online video industry much like the 2005 YouTube platform did. One of our biggest challenges was the high cost of delivering video to different parts of the world. The problem only gets bigger with HD, 4K and higher quality video streams, ”said Steve Chen, YouTube co-founder.

The price of Theta (THETA) has been in an uptrend for the past few months and for now there is no sign of a trend reversal. It’s also important to note that Theta has partnered with Chainlink to tackle online video ad fraud.

There is a very good team behind this project. The fundamentals of this cryptocurrency are constantly improving, but the project is still uncertain. We also can’t forget that regulations in the cryptocurrency market can actually pose a threat to that cryptocurrency.

Theta investors should keep in mind that this is a risky crypto purchase, but now might be a good time to start trading Theta (THETA).

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Technical Analysis: Bulls are focused on breaking the $ 0.80 resistance level

Data source: tradeview.com

In this table I have marked important resistance and support levels. The major support levels are $ 0.50 and $ 0.40, $ 0.70 and $ 0.80 represent the resistance levels. If the price bounces back above USD 0.70 it would be a signal to buy theta (THETA) and we have the open road to USD 0.80.

A break above $ 0.80 will help the uptrend continue and the next price target could be $ 0.90 or even $ 1. On the other hand, if the price drops below $ 0.50, it would be a strong sell signal and we have the open road to $ 0.40.

Summary

Theta could improve the video streaming industry in its current form by making it more efficient and less expensive. There are some obvious risks when it comes to investing in theta right now, but if the price jumps above $ 0.80 it would be a signal to buy this cryptocurrency and we are open to $ 1. On the other hand, if the price drops below the USD 0.50 support, it would be a strong sell signal and we have the open road to USD 0.40.

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