Analytics

THETA Technical Analysis: The Maximum Fall Target Is $1.45

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The sweet, calm and controlled correction in the THETA market continues. From the achievements of sellers can be identified a new test of the lower trend line of the falling wedge. Throughout the fall wave from March 2021, trading volumes have been consistently low, giving rise to speculation about a new wave of global growth. However, reality does not yet signal the beginning of the formation of such positive thoughts. Moreover, given the ease of the BTC price fall, the probability of the THETA price fall outside the correction wedge is quite high.

https://www.tradingview.com/x/PGbo7JIn/ Notice how the weekly candle of 2 May closed. The test of the lower trend line of the wedge did not affect buyers. No resistance, no rebound, no fight. This behavior of buyers maximized the probability of failure of the THETA price to $1.45. This mark kept the trend of buyers in January 2021 and made it possible to set a new historical high of $15.88. The $1.45 mark is the first mark from which you can place limit orders to buy and trade medium-term price rebounds at 60-80% of the price. And this is in the case of a continued global correction. In the case of a reversal — the mark of $1.45 may be the last achievement of sellers.

Technical Analysis Of THETA On The Daily Timeframe

https://www.tradingview.com/x/blOTSXzN/ The new trading week of 9 May began with a reduction in the THETA price. Sellers systematically press on the price for 5 days. From 2 April, buyers can not even organize the correction of the local fall wave. With low trading volumes, sellers achieve their targets. The meeting of the THETA price with the wedge trend line did not increase investors’ interest in this cryptocurrency. Until buyers are fixed above the local mark of $2.22, we do not recommend buying this cryptocurrency earlier than around $1.45. The only option when it will be possible to do so — if abnormally high volumes of trades appear on the THETA market during the price reduction. In all other cases, the THETA price will slowly fall to the liquidity range of $1.45, thus putting pressure on the nervous system of investors. The purpose of such psychological exhaustion is to select the positions of buyers at local lows.

The THETABTC Price Is Steadily Moving In A Downward Trend

https://www.tradingview.com/x/2tPb14dU/ Analyzing the movement of the THETABTC price on the weekly timeframe, there were no significant changes in the chart for the month. The price continues to move at the bottom of the falling channel and cannot cross even the middle line of the channel. The liquidity level of 0.0000635 was not maintained. The last hope of buyers to form the growth wave at least within the downward trend — is to keep the range of 0.00005. In December 2020, this range was the local support of buyers. Whether there will be enough strength to stop the global downward trend is not yet clear. However, the THETABTC price fall by 20% during May 2022 — has a high probability.

   
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