Elliott Wave Analysis for THETA/USD (1D Chart)

THETA/USD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave 5

Next Higher Degrees: Wave 5 of Impulse

Wave Cancel Invalid Level: N/A

Details: Wave 5 is showing a renewed increase, indicating the continuation of the uptrend.

Trading Strategy for THETA/USD

• Short-term: Price is anticipated to extend higher in wave 3, testing resistance levels between 3.249 and 3.567.
• Medium-term: Following wave 3, price is expected to retrace in wave 4 before resuming the uptrend in wave 5.

Main Outlook

• Short-term: The uptrend in wave 3 is likely to persist.
• Long-term: Wave (5) is projected to continue with a target above 4.352.

Elliott Wave Analysis for THETA/USD (4H Chart)

THETA/USD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Zigzag

Position: Wave A

Next Higher Degrees: Wave (2) of Impulse

Wave Cancel Invalid Level: N/A

Details: The corrective wave 2 is forming, preparing for a rise in wave 3.

Trading Strategy for THETA/USD

Price is advancing in wave 1 of wave (3) with growing buying momentum. Once wave 1 concludes, wave 2 is expected to correct downward but should not fall below the key support at 1.896. Over the long term, the price is likely to move upward in wave (3), targeting 3.349.

Main Outlook

• Short-term: Price is expected to continue rising in wave 1 before a wave 2 consolidation.
• Long-term: Wave (3) is expected to maintain an uptrend with targets above 3.567.

Technical Analyst: Kittiampon Somboonsod

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