THETAUSD Elliott Wave Analysis – TradingLounge Daily Chart
Theta Token / U.S. Dollar (THETAUSD) Daily Chart Analysis
THETAUSD Elliott Wave Technical Analysis
Function: Trend-following
Mode: Motive
Structure: Impulse
Current Position: Wave 5
Next Direction (Higher Degree): Awaiting Confirmation
Wave Invalidation Level: Not yet determined
THETAUSD Daily Trading Strategy Overview
After completing a five-wave downward Elliott pattern, THETA/USD is exhibiting early reversal indicators. The critical resistance zone lies at $0.75. A confirmed breakout above this level would support a bullish trend shift and potential price appreciation.
Trading Strategy Insights
Approach for Short-Term Traders (Swing Strategy):
- If THETA/USD sustains levels above $0.75, momentum likely favors an upside continuation.
Risk Management Guidelines:
- A drop below $0.57 will negate the bullish outlook and signal a breakdown of the recovery structure.
THETAUSD Elliott Wave Analysis – TradingLounge 4-Hour Chart
Theta Token / U.S. Dollar (THETAUSD) 4-Hour Chart Analysis
THETAUSD Elliott Wave Technical Analysis
Function: Trend-following
Mode: Motive
Structure: Impulse
Current Position: Wave 5
Next Direction (Higher Degree): Awaiting Confirmation
Wave Invalidation Level: Not yet determined
THETAUSD H4 Trading Strategy Overview
The four-hour timeframe reflects the same completed five-wave downward impulse. THETA/USD now faces a pivotal resistance at $0.75. A move above this level will likely confirm a short-term bullish reversal.
Trading Strategy Insights
Approach for Short-Term Traders (Swing Strategy):
- Maintaining levels over $0.75 enhances the probability of a continued uptrend.
Risk Management Guidelines:
- A price slip below $0.57 nullifies the potential recovery path and reinstates downward bias.
Technical Analyst: Kittiampon Somboonsod, CEWA
Source: Visit Tradinglounge.com and learn from the Experts. Join TradingLounge Here
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