Theta Token / U.S. Dollar (THETAUSD)– Elliott Wave Technical Analysis (Daily Chart)
THETAUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave 5
Next Direction: Higher Degrees
Invalidation Level: Not specified
Market Overview:
Theta Token (THETAUSD) has likely completed its long-term bearish cycle, marking a fresh low. It now shows early signs of trend reversal with the beginning of a bullish impulse wave. At present, THETAUSD appears to be consolidating within wave (2), setting the stage for a potential upward breakout into wave (3). This pattern suggests a positive short-term outlook in the THETAUSD forecast.
Trading Strategy:
✅ Short-Term Traders (Swing Trade):
- Buy Zone: Monitor for dip-buying opportunities around the 0.6200 USD support area.
- 🟥 Stop Loss: Set risk controls with a stop-loss order below the 0.5600 USD threshold.
Theta Token / U.S. Dollar (THETAUSD) – Elliott Wave Technical Analysis (4-Hour Chart)
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave 5
Next Direction: Higher Degrees
Invalidation Level: Not specified
Market Overview:
On the 4-hour timeframe, THETAUSD aligns with the daily outlook, confirming the end of a prolonged bearish correction. The asset appears to be completing wave (2), forming a support base that could soon evolve into wave (3). This scenario aligns with a bullish THETAUSD Elliott Wave crypto outlook in the near term.
Trading Strategy:
✅ Short-Term Traders (Swing Trade):
- Buy Zone: Consider entering near the 0.6200 USD level during retracements.
- 🟥 Stop Loss: Apply a protective stop-loss slightly below 0.5600 USD to manage risk.
Technical Analyst: Kittiampon Somboonsod, CEWA
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