Theta Token (THETA) Analysis

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Theta Token (THETA) has been recovering after a substantial decline, where the price fell from the $3.820 level down to a low of $0.886. THETA is trading for approximately 168 days under the trendline. Currently in a bearish trend.

Recently THETA has been rejected from the trendline and resistance level at 1.417.If THETA can break above this trendline and the $1.417 resistance, it could target higher resistance zones, including the purple zone at$1.645 - $1.720 and $1.915, followed by the major resistance in pink at $2.480- $2.559. Breaking through these levels would indicate a potential bullish reversal, with the price aiming for the upper blue resistance zone at $3.133 - $3.276.

However, if THETA fails to break above the current resistance, a downside movement toward the lower support zones is possible. The first support to watch is the green zone at $1.203 - $1.256, followed by a more substantial support level at $1.034 - $1.059 in the red zone. Failure to hold these support levels could lead to a further decline towards the next resistance zone in yellow at $0.886 - $0.933.

THETA is at a crucial juncture, with the potential for further downside if it fails to break key resistance levels. Traders should monitor for a break above $1.417 and the trendline for a potential bullish continuation or a rejection that could lead to a retest of the lower support levels.

Everything is on the chart

注释

THETA breaks the support zone, Green and moving towards the next Support zone Pink

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THETA breaks the support zone, Green and moving towards the next Support zone Pink