Theta Network, a decentralized cloud platform for artificial intelligence, media and entertainment, is one of today's top trending projects in terms of market performance. Analysts are predicting bullish potential for THETA price, with support expected around $1.8
Data from CoinGecko shows that the native Theta Network (THETA) token has soared more than 10% in the past 24 hours as of this writing.
Theta's price increase on the day comes as the broader AI sector is recording upward momentum. Over the past day, several AI-powered projects and meme coins have increased in value as bulls look to make new inroads ahead of crucial months.
In the past 24 hours and week, NEAR Protocol (NEAR), Internet Computer (ICP), RENDER (RENDER), Artificial Super Intelligence (FET), and Virtual Protocol (VIRTUAL) were all in the green state. These gains also pushed tokens such as ai16z, aixbt, and Fartcoin higher, and the AI ​​meme space recorded even higher returns at the same time as the AI ​​agent market heated up.
What will be the price of Theta Network?
THETA reached a high of $2.41, retesting the resistance level seen on December 24th and 25th. However, the chart pattern formation to watch out for is the ascending triangle. A breakout could cause Theta Network's price to rise by nearly 50%, Rose Premium Signals recently shared via X.
If the price turns negative, the major support level would be around $2.16 and below that would be $1.8. In particular, THETA hit a low of $1.76 on December 20th.
Theta Token ($THETA/USDT) is trading at $2.419, showing bullish potential after rebounding from the Fibonacci 0.618 retracement zone. The price is targeting the first resistance at $2.941 (T1), followed by $3.337 (T2) and $3.759 (T3). The $1.800 Fibozone remains important… pic.twitter.com/AvvPVoC90S
— Rose Premium Signal 🌹 (@VipRoseTr) December 25, 2024
Decentralized cloud AI project Theta is experiencing buying pressure amid this overall positive sentiment. Theta Network's major partnerships and integrations could be a catalyst, including recent deals with the University of Oregon's Distopia Lab and esports platform FlyQuest.
Theta EdgeCloud is trusted by leading academic institutions and enterprises – see who is using decentralized cloud for AI, media and entertainment at https://t.co/Dgn0dzE1g4 pic.twitter.com/ KakezYFG49
— Theta Network (@Theta_Network) December 20, 2024
In October of this year, Dystopia Lab announced that it would leverage Theta EdgeCloud for AI research, specifically for training AI models. Meanwhile, FlyQuest announced that it will partner with Theta to launch an AI esports chatbot.
