- •THETA has $0.665 as the next target if the Fair Value Gap holds as support.
- •After a sharp drop Market cap rebounded from $425M to $579M, signaling renewed investor interest.
- •Trading volumes and open interest are balanced; this shows stable participation across exchanges.
Theta Network (THETA) is trading at $0.5775 after a over 17% weekly dip. Bulls appear to be regrouping as price edges up 0.52% in the last 24 hours with over $26 million in daily volume.
Technical Setup Suggests Liquidity Grab Before Possible Upside
Analyst CryptoPatel shared a technical setup for THETA, noting a clean bullish structure supported by confluence and daily Fair Value Gaps (FVGs). According to the insights, the suggested entry lies at $0.559 with a stop at $0.532 and potential target zones are $0.620 and $0.665.
The FVG zone between $0.555 and $0.570 is crucial.The chart points to a possible liquidity grab scenario, where price may temporarily dip to the FVG zone before resuming its upward trajectory. Price currently around $0.575, so it is near the potential entry area.
Candlestick activity around October 13–14 revealed rejection wicks reflecting indecision and accumulation. A bounce from this zone could confirm a short-term reversal, with the $0.665 level as a potential resistance supply zone.
Market Cap Recovery Fuel Uncertainty
On October 10Theta Network’s market capitalization witnessed a loss of over $275 million, falling from over $700 million to around $425 million in hours.
Between October 11 and 12, the market stabilized in the $450M to $500M ranged sideways movement which reflected hesitation as buyers and sellers tested short-term control. The market began to recover thereafter, forming a rounded bottom pattern.
Market cap then climbed to $579.57 million, reinforcing the bullish bias seen in technical setups. Volume spiked during and after the crash, pointing to both panic exits and new entry activity from opportunistic traders.
Liquidity Metrics and Exchange Activity Remain Balanced
THETA’s 24-hour futures volume is currently at $46.40 million,and spot volume is $6.61 million. These figures indicate healthy liquidity and ongoing trading activity. Open interest totals are $20.95 million,resulting from steady engagement in the derivatives markets.
Platforms like Gate and MEXC recorded double-digit increases in both spot and futures activity, suggesting changing trader preferences. In contrast, Binance leads with $18.25 million in futures volume, despite a 4.53% drop.
The long/short ratio remains neutral, reflecting evenly matched sentiment.Theta's recovery depends on sustained interest and broader market stabilization.