Analyst: Theta (THETA) is ready to moon

• Altcoin Sherpa predicts that THETA terms is acceptable to explode

• Says the altcoin hasn’t pumped similar astir of the market

Crypto expert Altcoin Sherpa says Theta (THETA) is primed for a caller limb up aft lagging the broader marketplace for a portion now.

According to the analyst, the terms of THETA has printed cardinal method signals seen successful different altcoins whose caller upside enactment has been significant.

“I deliberation that this 1 volition satellite earlier than different altcoins. It’s been successful an accumulation scope for longer than astir and hasn’t pumped truly successful rather immoderate time,” the pseudonymous trader explained.

As for however Theta’s terms volition soar arsenic the bull marketplace continues, the trader notes:

“THETA is 1 that could outperform. It chopped astir longer than others AND it besides has its ain marketplace cycles/does crap connected its ain usually”

THETA/USDT illustration showing V-shaped reversal and cardinal absorption level adjacent $9.50. Source: Altcoin Sherpa connected Twitter.

While Theta is acceptable to carve its ain way upwards, Altcoin Sherpa predicts the upside momentum for astir of the altcoin marketplace volition way a trajectory akin to that seen successful Synthetix (SYN) aboriginal successful the 2020 bull market. He identifies 3 method perspectives.

“I expect galore alts to look similar SNX did backmost successful 2020. V-shaped reversal/accumulation/expansion.”

THETA is trading astir $7.44 and has shed astir 7% of its worth successful the past 24 hours. The cryptocurrency marketplace has seen an intraday scope of $7.02-$8.22 arsenic observed connected marketplace aggregator tract CoinGecko.

The 7-day precocious stands astatine $8.35, and astatine existent prices, the coin is astir 52% from its all-time precocious of $15.72 reached connected 16 April this year. 

Looking astatine the market, Bitcoin has declined sharply from its caller all-time highs of $69,045 reached yesterday. The starring cryptocurrency has shed 2.2% and is trading adjacent $65,490. The cryptocurrency marketplace headdress is down 1.8% but remains supra the $3 trillion mark.