Theta Price Soars 71%, Eyes $2.53 as Bullish Momentum Builds

As the price of Theta Network (THETA) exceeds $1.70, buyers anticipate the bull run to cross the $2.50 barrier. With a bullish revival, Theta Network is bouncing back into positive price action. The breakout from the trendline and range coincides with a break above the 200-day EMA and key Fibonacci levels.Will this reversal rally propel the altcoin price to the $2.50 mark? Let’s take a closer look at Theta Network price analysis to explore the potential.Theta Network (THETA) Price AnalysisIn the daily chart, the THETA price action shows a bullish reversal, giving a breakout of a consolidation range. The consolidation range extended from the $1 psychological price to $1.59. During this phase, Theta's price action overcame the bearish resistance trendline but struggled to break through a key overhead resistance level. THETA Price Chart With the broader crypto market recovery, bullish momentum has pushed Theta's price beyond the narrow range. Last night, a bullish engulfing candle formed, marking a nearly 20% surge and breaking the consolidation range.Currently, Theta is trading at $1.71, marking a 71% rise in 15 days from the $1 mark. With the range breakout, the intraday doji candle seems like a potential retest of the resistance zone. With growing anticipation of a post-retest reversal, the immediate target for Theta's price is $1.95. This level aligns with the 38.20% Fibonacci retracement, making it a key resistance point.As the bullish momentum continues, the 50-100-day EMA lines are nearing a bullish crossover, signaling an increased likelihood of a golden crossover on the daily chart.However, the recent price surge has driven the RSI closer to the overbought zone, which could indicate a minor pullback before a continued upward trend.Will THETA Token Cross $2?If the bullish trend continues, the 38.20% Fibonacci breakout will likely result in a bull run beyond the $2.50 psychological mark. Based on this assumption, the 61.80% Fibonacci level at $2.53 is the breakout target for Theta. Conversely, dropping below $1.59 will nullify the range breakout and likely retest the 200-day EMA at $1.4298.