THETA/USDT Overbought, Keep an eye on the demand area.
💎 THETA has recently demonstrated noteworthy market dynamics, currently indicating an overbought condition, suggesting a potential impending downward movement.
💎 It would be prudent to await a price retracement to the Bullish Order Block (OB) around $2.2, where a bounce probability could signal further upward momentum towards our target area around the Bearish OB and supply zone.
💎 However, if THETA fails to bounce at the Bullish OB and instead breaks below this area, the next likely destination is the demand area.
💎 THETA must bounce decisively from the demand area, as a failure to do so would signal a concerning shift back to a bearish trend. In such a scenario, the price may continue its downward trajectory, potentially experiencing further declines.
💎 It would be prudent to await a price retracement to the Bullish Order Block (OB) around $2.2, where a bounce probability could signal further upward momentum towards our target area around the Bearish OB and supply zone.
💎 However, if THETA fails to bounce at the Bullish OB and instead breaks below this area, the next likely destination is the demand area.
💎 THETA must bounce decisively from the demand area, as a failure to do so would signal a concerning shift back to a bearish trend. In such a scenario, the price may continue its downward trajectory, potentially experiencing further declines.
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