Elliott Wave Technical Analysis: Theta Coin

Elliott Wave Analyst - tradinglounge • Mar 16, 2023 at 4:13 AM EDT

Theta Token price has recovered well from the 0.850 level but the price is still in a downtrend as it is below the MA200 line, but even then we have completed the second wave retracement and the retracement of the 0.850 level.

Elliott Wave Analysis TradingLounge Daily Chart, Thursday, March 16

Image: thetatoken.org

Theta Token/U.S. Dollar (THETA-X)

THETAUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave III

Direction Next higher Degrees: wave (I) of Impulse

Details: : Wave II is likely to end at the level of 0.85 and a five-wave rise from this level will confirm it

Wave Cancel invalid Level: 0.706

Theta Token/U.S. Dollar (THETAUSD)Trading Strategy: Theta Token price has recovered well from the 0.850 level but the price is still in a downtrend as it is below the MA200 line, but even then we have completed the second wave retracement and the retracement of the 0.850 level. A five-wave rally confirms this idea, making the price likely to trade above 1.302 and potentially leading to 1.784.

Theta Token/U.S. Dollar (THETAUSD)Technical Indicators: The price is below the MA200 indicating a downtrend. The wave oscillators below Zero-Line momentum are bearish.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Elliott Wave Analysis TradingLounge 4H Chart, Thursday, March 16

Theta Token/U.S. Dollar (THETAUSD)

THETAUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave III

Direction Next higher Degrees: wave (I) of Impulse

Details: : Wave II is likely to end at the level of 0.85 and a five-wave rise from this level will confirm it.

Wave Cancel invalid Level: 0.706

Theta Token/U.S. Dollar (THETAUSD)Trading Strategy: Theta Token price has recovered well from the 0.850 level but the price is still in a downtrend as it is below the MA200 line, but even then we have completed the second wave retracement and the retracement of the 0.850 level. A five-wave rally confirms this idea, making the price likely to trade above 1.302 and potentially leading to 1.784.

Theta Token/U.S. Dollar (THETAUSD)Technical Indicators: The price is below the MA200 indicating a downtrend. The wave oscillators above Zero-Line momentum are bullish.

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