Theta Network (THETA) is currently priced at $0.348079, reflecting a significant 12.99% decline over the past 24 hours. The price has fluctuated between a daily high of $0.410458 and a low of $0.343426, indicating a narrow daily range of just 0.067032%.

Trading volume stands at 39,531,517, which accounts for 11.40% of the market cap, suggesting relatively high trading activity despite the price drop. The hourly moving averages indicate a bearish trend, with the 8 SMA at $0.3786 down 8.06%, and longer-term averages showing even larger declines, with the 144 SMA at $0.4040 down 13.84%.

The 1-hour RSI is at a critical level of 23, suggesting that THETA is heavily oversold in the short term, while the 7-day RSI at 42 indicates a lack of momentum but not extreme weakness. Over the past week, THETA has seen a 7-day price change of -17.93%, and the 14-day and 30-day changes are even more concerning at -22.63% and -36.35%, respectively, highlighting a persistent downtrend.

Despite the oversold condition indicated by the 1-hour RSI, the overall trend remains negative with significant price reductions over the last month. The all-time high of $15.72 from April 2021 underscores the extent of the current downturn, as THETA currently trades over 97% lower than its peak.

Given the current price action, technical indicators, and persistent downtrend, the recommendation for THETA is to Hold. The potential for a short-term rebound exists due to oversold conditions, but without clear signs of reversal or increased buying pressure, further declines cannot be ruled out in the near term.