- Theta Network, the decentralized cloud platform for artificial intelligence, media and entertainment, is among the top trending projects today in terms of market performance.
- Analysts predict bullish potential for THETA price, with support expected around $1.8
Data from CoinGecko shows the native Theta Network (THETA) token has surged by more than 10% in the past 24 hours at the time of writing.
Theta‘s price gains on the day come as the broader AI sector records upward momentum. In the past day, several AI-powered projects and meme coins have increased in value as bulls target new forays ahead of a potentially defining few months.
NEAR Protocol (NEAR), Internet Computer (ICP), RENDER (RENDER), Artificial Superintelligence (FET) and Virtuals Protocol (VIRTUAL) were all in the green over the past 24 hours and week. These gains have also seen tokens such as ai16z, aixbt and Fartcoin rally, with the AI meme sector recording even higher returns in the same period as the AI agent market heats up.
What next for Theta Network price?
THETA reached highs of $2.41, retesting the resistance level seen on Dec. 24 and 25. However, the chart pattern formation to watch out for is an ascending triangle. A breakout could see Theta Network price rally nearly 50%, Rose Premium Signals recently shared via X.
If price flips negative, key support levels would be around $2.16 and below that, $1.8. Notably, THETA broke to lows of $1.76 on Dec. 20.
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 $2.941 (T1) as the first resistance, followed by $3.337 (T2) and $3.759 (T3). The Fibo Zone at $1.800 remains a critical… pic.twitter.com/AvvPVoC90S
— Rose Premium Signals (@VipRoseTr) December 25, 2024
Decentralized cloud AI project Theta is seeing buying pressure amid this overall positive sentiment.Theta Network’s key partnerships and integrations, including recent deals with the University of Oregon’s Distopia Lab and esports platform FlyQuest, are likely catalysts.
Theta EdgeCloud is trusted by the leading academic institutions & enterprises – learn all about who’s using the Decentralized Cloud for AI, Media & Entertainment at https://t.co/Dgn0dzE1g4 pic.twitter.com/KakezYFG49
— Theta Network (@Theta_Network) December 20, 2024
In October this year, Dystopia Lab announced it would leverage Theta EdgeCloud in its AI research, specifically in its AI model training. Meanwhile, FlyQuest said it was teaming up with Theta to unveil an AI esports chatbot.
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