Theta Network: Tackling Last Mile Delivery in Video Streaming, Price Analysis, and Trading Strategie

Traditional video streaming services often face the challenge of 'last mile' delivery issues, particularly when relaying content through content delivery networks (CDNs). Due to the limited number of CDN data centers, providing high-quality streams to a vast audience becomes a challenge. Theta Network addresses this issue by leveraging its users' excess bandwidth and computing resources to relay videos, rewarding them in return.

Technical Analysis: Unraveling Price Trends and Potential Opportunities

Monthly Chart: Price Balancing and Potential Base Formation

The monthly chart indicates that Theta is currently undergoing price balancing, a consolidation phase that could lead to base formation. This consolidation is supported by the presence of an MSS (Multiple Support and Resistance) pattern on the monthly chart. The possibility of a BOS (Breakout and Sustain) scenario is also evident, suggesting a potential upward trajectory. Therefore, price ranging in this zone is a likely scenario in the near term.

Weekly Chart: Bullish SSP and Market Structure Breakout Awaiting Confirmation

The weekly chart presents a bullish SSP (Strong Support Pivot) from the $1.60 level. However, price confirmation is still pending, as the price has not yet broken through the market structure. It has merely filled an imbalance zone on the upside. Hence, the direction of price movement (upward or downward) remains uncertain at this stage.

Daily Chart: Potential Bearish and Bullish Swings

The daily price chart shows current trading at the $2.40 level. The price could experience a bearish swing towards $1.97, followed by a bullish swing towards $2.86.

Disclaimer
It is crucial to emphasize that this analysis is solely intended for educational purposes and does not constitute financial advice. Any investment decisions based on this information are at your own discretion and risk.