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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