Thena Price Jumps 33% as Trading Volume Hits a 5-Month High – Bulls Eye $0.93

Highlights:

• Thena price jumps 33% to $0.42, with daily trading volume hitting a 5-month high, up 426%.
• The futures volume soars 843% to $356.41 million, and open interest rises 136% to $ 28.31 million.
• Thena breaks a downtrend as bulls eye $0.93–$1 potential if $0.48 resistance is breached.

Thena’s price has spiked by over 33% to $0.42 in the past 24 hours, as its daily trading volume reached a 5-month high, marking a 426% increase from the previous day. The recent rally comes as THENA’s V3.3 upgrade (available since 21 May) appears to be gaining adoption. It added modular liquidity pools and auto-compounding incentives. Moreover,  its TVL increased by 83% after the upgrade to $22.31 million (THENA). An Italian Telegram community was also established by the protocol on 14 July, representing an attempt to expand regionally (ThenaFi_).

🇮🇹 THE official Italian community of THENA is now live on Telegram!

Il futuro si scrive in italiano, FA SENTIRE LA TUA VOCE.

🏛️ https://t.co/KTuq8TwCdB pic.twitter.com/qPXejg64q4

— THENA (@ThenaFi_) July 14, 2025

Growing Confidence Underpinned by Derivatives and Open Interest

When we take a glance at the $THE derivatives market, we can observe a significant increase in volume and open interest. The futures in $THE have increased tremendously, by more than 843%, to 356.41 million. The open interest, a measure of the number of contracts yet to be taken, has also increased by 136%, currently standing at 28.31 million. These numbers suggest longer-term stakes by market players, indicating growing confidence in the project’s future.

Its long-to-short ratio of $THE is 1.02, implying that most market participants are in long positions, indicating a bullish sentiment. Although these are bullish signs, it is worth noting that the market is not currently at a healthy level. In other words, there is a high chance that the market may reverse when profit-taking sets in.

Thena Price Breaks Out of a Descending Channel

The Thena price has been in a prolonged downtrend since November 2024, following its listing on Binance. Currently, it trades at $0.42, down about 90% from its ATH at 3.94. However, with the recent upgrades, THE is showing signs of life, as it has broken out of a descending channel, up 35% in the past day. The bulls have established immediate support at $0.25, coinciding with the 50-day MA, as they eye the immediate resistance at $0.48(200-day)MA. 

The Relative Strength Index (RSI) is an impressive 80.46, and this means that $THE is flirting in an overbought territory. Traders should be cautious to avoid the bull trap, as a retracement is likely, to allow the bulls to sweep through liquidity. Additionally, the Moving Average Convergence Divergence (MACD) indicator generates a buy signal, as it reveals a solid positive crossover. 

The positive outlook in the Thena price daily chart shows that the bulls have the upper hand. Looking ahead, the short-term forecast is bullish. If THE holds above the $0.48 resistance and volume continues to pump, the token could rally towards $0.93-$1 by late August. 

In the long term, if this momentum continues, $1.87-$2 isn’t off the table by September, especially with the community hype. However, traders should be cautious, as the overbought RSI and potential profit-taking could drag it back to the $0.25 support area.  Traders will want to keep an eye on that $0.48 level, because a bounce from the level could send the Thena price higher.