Elliott Wave Technical Analysis: Theta Token, Thursday, Nov. 24

Elliott Wave Analyst - tradinglounge • Nov 24, 2022 at 4:00 AM EST

The price of Theta tokens continues to be under heavy selling pressure, below the MA200 MA50, indicating a strong downtrend and the wave oscillator is below the zero line with decreasing momentum.

Elliott Wave Analysis TradingLounge Daily Chart, Thursday, Nov. 24

Theta Token (THETA-X)

THETAUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Diagonal

Position: Wave 5

Direction Next higher Degrees: wave (5) of Motive

Details: Diagonal pattern at the end of the trend, When is complete the price rising again

Wave Cancel invalid Level: 0.801

Theta Token(THETAUSD) Trading Strategy: price continues to be under heavy selling pressure, below the MA200 MA50, indicating a strong downtrend. The wave oscillator is below the zero line with decreasing momentum. Even so, the bullish divergence is showing signs of reversal, so the overall price is likely to reverse again.

And the price is expected to trade above 1.400, but not reverse below 0.801

Theta Token(THETAUSD) Technical Indicators: The price is below the MA200 MA50, indicating a clear downtrend. The Wave oscillator is below the Zero-Line is a bearish momentum.

TradingLounge Analyst: Kittiampon Somboonsod

Elliott Wave Analysis TradingLounge 4H Chart, November 24, 2022

Theta Token (THETAUSD)

THETAUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Diagonal

Position: Wave 5

Direction Next higher Degrees: wave (5) of Motive

Details: Diagonal pattern at the end of the trend, When is complete the price rising again

Wave Cancel invalid Level: 0.801

Theta Token(THETAUSD) Trading Strategy: price continues to be under heavy selling pressure, below the MA200 MA50, indicating a strong downtrend. The wave oscillator is below the zero line with decreasing momentum. Even so, the bullish divergence is showing signs of reversal, so the overall price is likely to reverse again.

And the price is expected to trade above 1.400, but not reverse below 0.801

Theta Token(THETAUSD) Technical Indicators: The price is below the MA200 MA50, indicating a clear downtrend. The Wave oscillator has a Bullish divergence Price maybe reversal.

More By This Author:

SP500, Nasdaq, Russell 2000, And Dow Jones: Elliott Wave Technical Analysis
Elliott Wave Technical Analysis: Analog Devices Inc. - Wednesday, Nov. 23
Elliott Wave Technical Analysis: Bitcoin - Wednesday, Nov. 23

Disclosure:

As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical trading results are no guarantee of future returns. Some investments are inherently more risky than others. At worst, you could lose your entire investment and more TradingLounge™ uses a range of technical analysis tools, such as Elliott Wave, software and basic fundamental analysis as well as economic forecasts aimed at minimising the potential for loss. The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without taking into account your particular objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide, tradinglounge takes no responsibility whatsoever for your trading profits or losses. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice in light of your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in Indices Stocks shares Forex CFDs Options Spread Betting derivatives of any kind / products is appropriate for you in light of your financial trading circumstances.

STOCKS IN THIS ARTICLE

Comments

Back to all articles