Elliott Wave Analysis TradingLounge Daily Chart,
Theta Token / U.S. Dollar (THETAUSD)

THETAUSD Elliott Wave Technical Analysis
Function: Following the trend
Mode: Motive
Structure: Impulse
Position: Wave 3
Direction Next Higher Degrees:
Wave Cancel Invalid Level:

Theta Token / U.S. Dollar (THETAUSD) Trading Strategy:
In early April, THETA established a strong base by completing wave V and starting a fresh uptrend with wave ①. Since then, the price entered a consolidation phase in wave ②, retracing to test the 61.8% Fibonacci support level. It rebounded sharply from this area, signaling a possible beginning of a strong wave ③.

Trading Strategies:

Strategy

Approach

For short-term traders (Swing Trade):

Upon confirmation of a reversal above $0.74 with increased volume, traders may consider opening long positions aiming for wave ③.

Risk Management:

Wave Cancelation (W.C.) Invalid: If the price drops below $0.60, the wave structure would be invalidate.

Elliott Wave Analysis TradingLounge H4 Chart,
Theta Token / U.S. Dollar (THETAUSD)

THETAUSD Elliott Wave Technical Analysis
Function: Following the trend
Mode: Motive
Structure: Impulse
Position: Wave 3
Direction Next Higher Degrees:
Wave Cancel Invalid Level:

Theta Token / U.S. Dollar (THETAUSD) Trading Strategy:
During early April, THETA formed a significant base by finalizing wave V, launching a new uptrend with wave ①. The asset has been consolidating within wave ②, recently dipping to the 61.8% Fibonacci retracement before surging upwards, suggesting the early stages of wave ③.

Trading Strategies:

Strategy

Approach

For short-term traders (Swing Trade):

Traders should look to go long if a reversal above $0.74 is confirmed, along with volume increases.

Risk Management:

Wave Cancelation (W.C.) Invalid: A decline under $0.60 would invalidate the current wave setup.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

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