Biggest Movers: THETA Hits 3-Month High, While Near Climbs 17% on Friday

Theta network was trading at its highest point in three months on Friday, as prices broke out of a key resistance level. Today’s move comes as crypto markets were mostly higher in the session, climbing 2.86% as of writing. Near protocol rose by 17%, also recording multi-month highs.

Theta Network (THETA)

Theta network (THETA) was one of Friday’s notable gainers, as prices rose by nearly 16% in today’s session.

Friday’s surge saw the token hit an intraday high of $1.65, which comes less than 24 hours after trading at a low of $1.37.

Today’s rally sees THETA/USD climb to its highest point since May 11, when price was at a peak of $1.84.

Looking at the chart, the move came as THETA broke out of its key resistance level at $1.57, which is two days removed from its last attempt to move past this hurdle.

This comes as the relative strength index (RSI) also moved past a ceiling of its own at 62, and as of writing, it is tracking at 65.30.

This is the highest point price strength has hit since April, and comes as THETA has entered overbought territory.

Bears could look to reenter the market in upcoming sessions as a result of this.

Near Protocol (NEAR)

Near protocol (NEAR) was trading even higher than THETA on Friday, with the token climbing by as much as 17%.

Following a low of $4.33 on Thursday, NEAR/USD raced to a peak of $5.19 earlier in today’s session.

Like THETA, this high came as near protocol broke out of its long-term resistance level of $4.80.

This ceiling was held since June 10, which was the beginning of a five-day bearish streak that pushed price to a low of $3.11.

Since rebounding from those declines, the 14-day RSI has gone from a low of 36.51 on June 14, to now tracking at 68.

As a result of this, prices are now overbought, although bulls appear keen to move even higher, as they target a ceiling of $5.55.

Register your email here to get weekly price analysis updates sent to your inbox:

Do you expect near protocol to surge further, despite being overbought? Let us know your thoughts in the comments.

Earning Passive Income With Crypto

Related Posts

Fractional NFT Markets Slide 76% in Value in 7 Months, Diced-up Doge NFT Still Leads the Pack

When non-fungible token (NFT) collectibles became popular, the fractionalized NFT market grew past the $200 million range seven months ago in December 2021. Since then, the fractionalized…

Bored Ape Yacht Club (BAYC) NFT Sales Test New Higher-Low Slipping More Than $290M

Similar to more than 90% of NFTs, BAYC saw a significant reduction in sales volume due to negative market sentiment during the seventh month of the year. …

Crypto Use in Metaverse Could Threaten Financial Stability, Says BoE

The prospective widespread use of cryptocurrencies within a fully developed metaverse could pose a systemic risk to financial stability, according to Bank of England researchers. Were the…

Troubled CoinFLEX Files for Restructuring in Seychelles

On Tuesday, the troubled Cryptocurrency exchange, CoinFlex, filed for restructuring in a Seychelles court to resolve a shortfall due to a counterparty failing to make a margin…

Elon Musk Sells Tesla Shares Worth Nearly $7 Billion — Plans to Buy TSLA Stock Back if Twitter Deal Falls Through

Elon Musk has sold nearly 8 million Tesla shares worth almost $7 billion. “It is important to avoid an emergency sale of Tesla stock” if Twitter forces…

Citadel CEO Ken Griffin Spills Beans on Why He Outbid ConstitutionDAO

Citadel CEO Ken Griffin opens up on what prompted him to outbid ConstitutionDAO last year to obtain a rare copy of the U.S. Constitution. The prized document…