THETA price analysis: THETA in bearish grip, breaks below $5.2

TL;DR Breakdown THETA price analysis is bearish today as price nears $5.20.Strong resistance is found at $6.9.Strong support is found at $6.1. The THETA price analysis for today reveals THETA is on a downward trend. The price broke below $5.5, and THETA/USD pair is trading hands at $6.0 at the time of writing, while the price swang as low as $6.2 today. If the bearish trend continues, then THETA may soon retest the support present at $5.2, which is actually yesterday’s support, followed by the strong support of $5.1. Bears have been maintaining their momentum for the past three days, and the price has decreased significantly over this time. The chances of recovery are quite low, but some bullish activity has been observed recently; overall, the environment seems to be more feasible for the bears. THETA/US 1-day price chart: Coin price on a downslope The 1-day THETA price analysis is on the bearish side, as the price has dropped since the start of the day to the level of 5.3. This has cast a negative effect on the overall THETA/USD pair value. The volatility is also increasing, which is a negative sign for the current future of the cryptocurrency, and the moving average (MA) is at the $6.4 mark above the price level. THETA/USD 1-day price chart. Source: Tradingview The Bollinger bands, a key factor for indication of volatility, are also expanding, which shows the increasing volatility with the upper band at the $8.3 mark...