Thena Price Skyrockets Over 300% Following Binance $THE Airdrop and Listing Announcements

Highlights:

• Thena Price has pumped over 300% to trade at $1.38 as its daily trading volume explodes over 3300%.
• This comes following Binance revealing Thena as their second airdrop project and listing announcement.
• With the market’s bullish momentum, Thena’s price could hit $2 or beyond in the near term. 

Thena price is winning on the charts today, as it has soared over 300% following Binance’s announcement as the second project in the holder airdrop program. Thena price soared to trade at $1.38 at press time. Its daily trading volume has exploded by over 3300%, hitting 42 million, as is market cap has spiked to $105 million. This signals increased interest in the token as investor confidence bolsters. THE is now up 731% in a week, 496% in a month and 922% in a year. 

Introducing Thena $THE on #Binance HODLer Airdrops!

Read more 👉 https://t.co/TG6Gox0rMf pic.twitter.com/ElKNNLCvmz

— Binance (@binance) November 26, 2024

What’s Behind Thena’s Price Rally?

The recent upward trajectory comes as Binance, one of the leading crypto exchanges, revealed it will airdrop Thena(THE) to its users who hold BNB. In simple words, if one has a Binance Coin (BNB) in ​​their wallet and evaluates these BNBs in flexible or locked stake, they will receive a share from this AirDrop. Binance will calculate the BNBs you hold in Flexible or Locked Stake transactions between 06.11.2024 and 13.11.2024. Meanwhile, the airdrops will be made available before the Thena coin listing on Nov 27 at 10 UTC. 

🚀🚀New coin listing on #Binance! Thena (#THE $THE)
Binance will then list THE at 2024-11-27 10:00 (UTC)
and open trading with THE/#BTC, THE/#USDT, THE/#BNB, THE/#FDUSD and THE/#TRY trading pairs
🚀🚀Price $THE: $1.04 (5x)

Binance is excited to announce the second project on… pic.twitter.com/q3kjI4mXvK

— New Coin Listing (@NewCoinListings) November 26, 2024

Thena Statistical Data

Based on CoinmarketCap data:

• THE price now – $1.38
• Trading volume (24h) – $42.85 million
• Market cap – $105.56 million
• Total supply – 237.90 million
• Circulating supply – 76.59 million
• THE ranking – #438

Thena Technical Indicators Flash Bullish

Thena’s price increased by over 300% after Binance announced its second project in the holder airdrop program. The coin, which has been in a prolonged period of consolidation, broke out bullishly, reaching the $1.51 high, representing a 643% increase in the past 24 hours. However, due to early profit bookings, the Thena price has slightly pulled back, currently at the $1.38 level. 

This breakout confirms the parabolic movement as the bulls flip the resistance into a support level. The 50-day SMA at $0.25 is on the verge of crossing above the 200-day SMA at $0.26, affirming the golden cross formation. The golden cross is a classic bull signal, often leading to the beginning of a long-term uptrend. Both SMAs are slanting upwards, indicating sustained buying pressure and lending further momentum to the bullish bias.

However, the Relative Strength Index (RSI) cautions traders of a potential correction. After climbing from support at the mid-line (50), the RSI jumped into the overbought area, hitting a 96.65-level strength. Traders won’t have to worry about sudden pullbacks with the RSI above 70, as this position also means a correction is imminent.

Traders are at liberty to hold their long positions in THE intact, bolstered by the bullish outlook from the Moving Average Convergence Divergence (MACD) indicator. A buy signal validates the rally with the blue MACD line stepping above the signal line in orange. The momentum indicator has also been trending upwards into the positive region – above the mean line at 0.00.

Thena Price Forecast

Based on the daily chart timeframe, the bulls have put their best foot forward, quashing their seller counterparts in the market. However, with the RSI roaming in overbought territory, it is prudent to watch out for a potential short-term correction or consolidation as the market digests recent gains. 

In such a case, a slight pullback is imminent to allow the bulls to sweep through liquidity. This will see the Thena price chase the $1.02 support level. Conversely, given the current trend, near-term prices could head toward the $2 level or beyond, especially if buyers continue to push the price higher.