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

Function: Trend-following

Mode: Motive

Structure: Impulse

Wave Position: Wave 3

Next Higher Degree Direction: Unspecified

Wave Cancel Invalid Level: Unspecified

Theta Token / U.S. Dollar (THETAUSD) Trading Strategy – Daily Chart
In early April, THETAUSD built strong support near $0.67 (Fib 61.8%), then accelerated upward through wave (3). It recently cleared the Fibonacci 1.618x extension of wave (1) at $1.084, suggesting that wave (3) could be nearing completion. The price may soon consolidate into wave (4) before pushing higher into wave (5). The medium-term projection remains above $1.20.

Trading Strategies
Approach:

For short-term swing traders:

Wait for a confirmed correction in wave (4) to enter a long trade in wave (5).

Risk Management:

Critical Alert:

If the price dips under the red support (W.C. Invalid), the wave count is invalidated.

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

Function: Trend-following

Mode: Motive

Structure: Impulse

Wave Position: Wave 3

Next Higher Degree Direction: Unspecified

Wave Cancel Invalid Level: Unspecified

Theta Token / U.S. Dollar (THETAUSD) Trading Strategy – H4 Chart
Similar to the daily chart, the 4-hour view confirms strong upward action from the $0.67 base. After surpassing the 1.618x Fibonacci level at $1.084, it seems wave (3) is wrapping up. A short-term correction in wave (4) could set the stage for another rally into wave (5), with upside potential still targeting above $1.20.

Trading Strategies
Approach:

For short-term swing traders:

The entry opportunity opens once wave (4) stabilizes.

Risk Management:

Warning:

A drop below the red line invalidates the wave count setup.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

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