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Theta Token / TetherUS PERPETUAL CONTRACT

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THETAUSDT.P trade ideas

Selling Pressure and Seeks Support Amidst DowntrendTheta has faced significant selling pressure, resulting in the loss of support at various levels. These levels have now turned into resistance, causing the price to decline towards the midline of the descending channel. The main support range for Theta is currently considered to be between $0.760 and $0.780. However, the $0.83 support level has held strong, forming a double bottom pattern at this level and the midline of the channel. If this pattern is confirmed and the upper boundary is broken, we can expect price growth and the end of the correction wave in the weekly timeframe. Price targets are projected at $1, $1.08, $1.13, and $1.18. Breaking the third and fourth resistances, which align with the channel's ceiling, would require significant buying volume. The Relative Strength Index (RSI) is currently at 37, indicating moderate downward momentum for Theta.
by MonoCoinSignal
3
THETAUSDT is in demand zoneTHETAUSDT ,Currently, it is observed that THETAUSDT is inside a big demand zone. According to Plancton's Rules, if the price manages to have a breakout from this zone, it could present a potential opportunity for a new long position. Being inside a big demand zone suggests that there is a significant level of buying interest and support for THETAUSDT at the current price levels. This zone represents an area where buyers are expected to step in and create demand, potentially leading to an upward price movement. Traders following Plancton's Rules would closely monitor the price action within this demand zone, looking for signs of a breakout. A breakout occurs when the price convincingly moves above a key resistance level, indicating a shift in market sentiment and the potential for a sustained upward move. If the price of THETAUSDT successfully breaks out from the big demand zone, traders adhering to Plancton's Rules may consider initiating a new long position. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <= 1h structure. Follow the Shrimp 🦐
by InkyGrip
6
THETA - could breakout soon with limited riskDear fellow underdogs, I found another interesting chart and I am happy to bring it to your attention. Since the all-time high at 15.9$ innApril 2021 THETA is in a downward channel. Recently there have been signs of recovery and. It is close to breakout of the Descending Channel in the 1M Timeframe. In the 1W timeframe it has already broken out of the descending wedge. I am expecting a Massive Bullish Wave . Downside risk is seen at the old Support level at 0.65$ and last defence line is @0.45$ S1 Fib 0.382 level. Man lie, woman lie and kids and charts never lie. Ned aka SkyLion
Long
by Sky_Lion
THETAUSDT wants the 1.3 ?THETAUSDT is a cryptocurrency trading pair consisting of THETA (a decentralized video streaming platform) aRecently, the price of THETAUSDT experienced a bounce on the weekly support level at around $1.04. This indicates that there was significant buying activity at that price point, which prevented the price from falling further. After the bounce, the price of THETAUSDT experienced a clear breakout from the $1.2 area, which is now being tested as new support. This suggests that there is strong buying pressure at this level, which could potentially push the price higher in the future. Based on Plancton's rules, this breakout and subsequent retest of the $1.2 level may be seen as a bullish signal, indicating that a new uptrend may be forming. If the price is able to create a new impulse and move towards the $1.3 area, this could be an even stronger signal to go long on THETAUSDT. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <= 1h structure. Follow the Shrimp 🦐
by InkyGrip
2