Image Source: Pixabay
 

Elliott Wave Analysis TradingLounge Daily Chart, 12 December 2023.

Theta token/ U.S. Dollar(THETAUSD)

THETAUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Flat

Position: Wave (2)

Direction Next higher Degrees: wave ((2)) of Impulse

Wave Cancel invalid Level:

Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))

Theta token/ U.S. Dollar(THETAUSD) Trading Strategy: Theta token is likely to rise due to the increase in the Impulse Wave price structure. Overall, it is still in an uptrend. A five-wave rise above the 1.207 level supports this idea.

Theta token/ U.S. Dollar(THETAUSD) Technical Indicators: The price is above the MA200 indicating an uptrend, Wave Oscillators a Bullish Momentum.

Analyst: Kittiampon Somboonsod, CEWA

Elliott Wave Analysis TradingLounge 4H Chart, 12 December 2023.

Theta token/ U.S. Dollar(THETAUSD)

THETAUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Flat

Position: Wave (2)

Direction Next higher Degrees: wave ((2)) of Impulse

Wave Cancel invalid Level:

Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))

Theta token/ U.S. Dollar(THETAUSD) Trading Strategy: Theta token is likely to rise due to the increase in the Impulse Wave price structure. Overall, it is still in an uptrend. A five-wave rise above the 1.207 level supports this idea.

Theta token/ U.S. Dollar(THETAUSD) Technical Indicators: The price is above the MA200 indicating an uptrend, Wave Oscillators a Bullish Momentum.

More By This Author:

Elliott Wave Technical Analysis: Costco Wholesale Corp. - Monday, Dec. 11
Elliott Wave Technical Analysis: Bitcoin/U.S. Dollar - Monday, Dec. 11
Elliott Wave Technical Analysis Day Chart: British Pound/Australian Dollar - Monday, Dec. 11