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THETAUSD – Elliott Wave Technical Analysis (Daily Chart)
 

• Function: Follow Trend
• Mode: Motive
• Structure: Impulse
• Position: Wave 5
• Next Direction: Higher Degrees
• Invalidation Level: Not specified

Market Overview:
 

Theta Token (THETAUSD) recently completed a major bearish trend and reached a new low. It now appears to be entering a recovery phase, showing signs of a new upward wave structure. Currently, the token is consolidating in wave (2) and has potential to accelerate into wave (3).

Trading Strategy:
 

✅ For Short-Term Traders (Swing Trade):

• Buy Zone: Watch for opportunities to buy on a dip near the 0.6200 USD level.
• 🟥 Stop Loss: Place a stop-loss below the 0.5600 USD mark to manage downside risk.

THETAUSD – Elliott Wave Technical Analysis (4-Hour Chart)
 

• Function: Follow Trend
• Mode: Motive
• Structure: Impulse
• Position: Wave 5
• Next Direction: Higher Degrees
• Invalidation Level: Not specified

Market Overview:
 

Similar to the daily chart, the 4-hour chart confirms that THETAUSD may have concluded a significant downward correction. The price is now forming wave (2), creating a base from which wave (3) might begin to rise.

Trading Strategy:
 

✅ For Short-Term Traders (Swing Trade):

• Buy Zone: Look to buy on a dip around 0.6200 USD.
• 🟥 Stop Loss: Implement risk controls with a stop-loss set below 0.5600 USD.

Analyst: Kittiampon Somboonsod, CEWA
Source: TradingLounge.com

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