Will THETA return to an upward trend?Hello everyone, I invite you to review the current situation on Theta Token. When we enter the one-day interval, we can see how the price moved in the formed downtrend channel. What's more, we can see here the movement at the lower border of the channel and how the price maintains a strong support at the level of $ 0.90, however, if we go lower, just below the channel border, a very strong support zone for the price from $ 0.69 to $ 0.42 is visible.
We can also see how the price enters a slight sideways trend in which it can approach the downtrend line lasting inside the downtrend channel, such consolidation and gathering of energy can have a positive impact on the movement in the coming weeks, which can lead to growth. When such a scenario works, we can see a nice upward movement around $ 1.36, another significant resistance can be seen at $ 1.75, and then we have strong resistance around $ 2.36.
It is worth paying attention to the MACD indicator here, which shows how we are staying in the lower range and the ongoing movement is visible here, which may also indicate a potential attempt to rebound the price.
