THETAUSD 1DTHETA ~ 1D
#THETA Make a purchase after successfully breaking through the resistance line of this pattern, with a minimum target of 15%+. Watch and wait for this pattern to be successfully broken.
Thetausdsignals
THETAUSD targeting $5.2250 on a fractal repeat.Theta Token is trading within a Channel Down and has just recently broken above its 1D MA50 (blue trend-line again). Even though the price remains just inside the Channel Down, that break-out on the previous similar Channel Down of April- July 2021 was a buy signal towards the 0.618 Fibonacci retracement level. That is currently at 5.2250. Notice how we are at the exact same RSI spot of that Channel Down break-out.
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THETAUSD aiming at $35THETA has been trading within a Channel Up on the 1D time-frame (logarithimic scale) since the COVID bottom, with distinct Higher Highs and Higher Lows. At the moment it is trading almost on the Higher Lows trend-line and is on critical crossroads as the 1D MA50 (blue trend-line) is about to cross below the 1D MA200 (orange trend-line) and form the technically bearish formation of the Death Cross.
However, last time the 1D Death Cross was formed was back in the first week of April 2020, right after the COVID March Bottom and that turned out to be a strong Buy Signal instead. The CCI has also rebounded on the -290.00 CCI level which was the March 2020 COVID low.
Practically that means that if the Death Cross turns into a Buy Signal again, THETAUSD should go after a new Higher High within the Channel Up, and a $35.00 Target based on a 1.5 Fibonacci extension estimate would seem modest.
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THETAUSD Strong long-term buy signalPattern: Channel Up on 1D.
Signal: Buy as the price rebounded within the 1D MA50 (blue trend-line) MA100 (green trend-line) zone, which has been the strongest buy signal since June 2020. Confirmation when the LMACD forms a Bullish Cross.
Target: 115.000 (just below the 3.5 Fib extension and the 1.5 Fib level of the Channel).
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🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> EBITDAtiger
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