Bitcoin Holds Above $91,000 as ETF Inflows Reach $646 Million
- Strong Market Performance: Bitcoin remains stable above $91,000 while ETH holds above $3,100, indicating robust market confidence in cryptocurrencies, which may attract more investors into the space.
- Significant ETF Inflows: On the first working day of the year, Bitcoin and Ethereum saw a net inflow of $646 million into ETFs, reflecting rising institutional interest in crypto assets, which could further drive prices upward.
- Key Economic Data Releases: This week will see the release of crucial economic data, including U.S. non-farm payrolls and unemployment rates, which will directly impact the Fed's interest rate decisions and consequently the volatility in the crypto market.
- Future Volatility Expectations: With inflation and employment data set to be released, the market anticipates increased volatility in cryptocurrencies, especially against the backdrop of potential continued rate cuts by the Fed, prompting investors to closely monitor the upcoming data.
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Technical Analysis for THETA
Technical Sentiment Analysis for Theta Network (THETA) As of , Theta Network (THETA) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for THETA stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, THETA is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Theta Network (THETA) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0705 | 0.115 | 0.164 | 0.208 | 0.257 | 0.301 | 0.35 |
| Fibonacci | 0.115 | 0.15 | 0.172 | 0.208 | 0.243 | 0.265 | 0.301 |
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