THETAUSD trade ideas
Theta Token Price Analysis THETA / USD: Bulls Peeking OutTHETA is on the rise in early week trading, as the increasingly popular cryptocurrency attempts to stage a bullish breakout above its key short-term moving averages.
The THETA / USD pair is now showing signs of price stabilization after coming under intense selling pressure over the summer. THETA has so far recovered close to thirteen percent in value from the worst levels of September and trades close to five percent in the green for October.
At current trading levels, the THETA / USD pair has gained close to seventy percent since the start of the year, although it trades around fifty eight percent lower from its 2019 trading high.
From a technical perspective, the cryptocurrency is still bearish across the short and medium-term horizon. Short-term bulls are, however, close to moving price above the THETA / USD pair’s 200-period moving average for the first time since late-August.
The lower time frames are currently showing that a bearish head and shoulders pattern has formed, with the bearish pattern holding a downside projection of around $0.014000.
If the pattern was invalidated, the bullish target would take the THETA / USD back towards its 200-day moving average. It is worth noting that a rally of around sixty percent would need to occur for this to happen.
It is also noteworthy that the daily time frame highlights that a valid inverted head and shoulders pattern has formed on the daily time frame. Bulls would need to rally the THETA / USD pair by around one hundred and thirty percent to trigger the bullish pattern into action.
Sentiment
According to the latest sentiment data from TheTIE.io, the short-term sentiment towards THETA is bearish, at 39.50 %, while the overall long-term sentiment towards the cryptocurrency is neutral, at 53.50%.
THETA / USD Daily Chart by TradingView
Upside Potential
The four-hour time frame highlights that bulls need to move price above the $0.093500 level to invalidate the bearish head and shoulders pattern. The THETA / USD pair’s 200-period moving average on the mentioned time frame offers the strongest form of near-term resistance, around the $0.087000 level.
The daily time frame shows that the $0.096000 and the $0.115000 levels offers the strongest form of medium-term resistance.
Downside Potential
The four-hour time frame is currently showing that a bearish head and shoulders pattern has formed, with the $0.079000 level the neckline of the bearish pattern.
The daily time frame is showing that a breakout below the $0.075000 level would be extremely bearish for the THETA / USD pair.
Summary
THETA should be monitored closely over the coming sessions as the cryptocurrency is approaching a potential short-term technical shift.
A breakout above its current monthly trading high could prompt a strong double-digit recovery for THETA. Our SIMETRI Research team has covered THETA in depth.
THETAUSD a formation of gartley | Upto 136% profitOn week chart the THETAUSD has started the formation of C to D leg and now almost entered the potential reversal zone.
There is already a golden cross formation between 25MA and 50MA on week chart beneath the price action and withing the PRZ area.
The price action has strong supports of 25MA and 50MA.
Soon a massive profit spike is expected insha Allah.
The targets are:
Buy between: $0.10520000 to $0.07659137
Sell between: $0.12757615 to $0.18149723
Regards,
Atif Akbar (moon333)
Theta looks ready to move higher!Our proprietary oscillator gave a buy signal yesterday and THETA recovered from a short 20% correction and looks ready to start another bullish run!
Theta Token appears ready for a pullback!Our prop oscillator is showing that Theta is on the verge of a sell signal if it stays at or below the current price.
Theta Price Analysis THETA / USD: Binance BumpTheta / USD Short-term price analysis
Theta has a bullish short-term trading outlook, with the cryptocurrency advancing to a new monthly high.
The four-hour time frame shows that a bullish inverted head and shoulders pattern has now formed, with the THETA / USD pair trading close to the neckline of the bullish pattern.
Technical indicators on the four-hour time frame have turned bullish and continue to issue buy signals.
Pattern Watch
Traders should note that the upside target of the bullish inverted head and shoulders pattern on the four-hour time frame would take the THETA / USD pair to a new all-time trading high.
Relative Strength Index
The RSI Indicator on the four-hour time frame is bullish, although it is starting to correct lower.
MACD Indicator
The MACD indicator has turned bullish on the four-hour time frame and is currently issuing a buy signal.
Fundamental Analysis
Theta has surged after the announcement that its operational token Theta Fuel (TFuel) will be listed on Binance. TFuel is a second token in the Theta protocol that works in conjunction with the Theta token that exists today.
Theta / USD Medium-term price analysis
Theta has a bullish medium-term outlook, with the cryptocurrency trading well above its trend-defining 200-day moving average.
The daily time frame is showing that a large head and shoulders pattern remains valid, with Theta bulls working hard to negate it.
Technical indicators on the daily time frame are bullish and continue to issue a buy signal.
THETA / USD Daily Chart by TradingView
Pattern Watch
Traders should note that if the bearish pattern on the daily time frame is invalidated then a large bullish pattern will start to take shape.
Relative Strength Index
The Relative Strength indicator on the daily time frame is bullish and shows scope for further upside.
MACD Indicator
The MACD indicator on the daily time frame is bullish, with both the MACD signal line and histogram issuing buy signals.
Fundamental Analysis
In the medium term, Theta looks interesting. The project has closed a strategic funding round led by Samsung NEXT and Blockchain.info and is now fully funded through 2021. The team is planning to open offices in Seoul, Singapore and London and invest globally in media partner adoption.
Conclusion
The recent move higher in the THETA / USD pair has helped to create a large bullish pattern on the four-hour time frame. If buyers can maintain the positive momentum and negate the bearish pattern on the daily time frame, the cryptocurrency could soar to a new all-time trading high.
Downward Pressure Till End of May or First of June; Then Pump OnAs pointed out in this video publication; Theta US Dollar is likely to continue with downward pressure until the last week of May or first week of June before another bout of serious upward pressure takes us up higher. It's hard to say how high at this point. We may have a better idea of how high around the third week of June.
THETA/USD - Day Chart - Potential +420%THETA looks like its completed a large degree 1 and a 2 that has retraced 0.618.
from here i'm expecting a wave 3 that will have a minimum length of wave ones 420%, and probably more.
I've also place a conservative target at all time high just in the interest of caution.
if you've found this useful, feel free to donate. thanks.
BTC: 1LCayhGfdzsNP9M5227LyE28FKed4thEsB
LTC: LaPLQ6JoiqrxYED9FBNVphyApAhpW4Yw3R
ETH: 0x1Ec59747Ff307FaA71de070A3914e9afFbac7424
Short term day chart to 29 centsHaejin Lee used to use what he called the jaws of wealth. Seems to be applying to Theta at the moment with wave 5 finishing at 29 cents and completing a 10 month cup and handle, correcting and continuing higher.
Theta short term 4hr chart to 29 cents. Haejin Lee used to use what he called the jaws of wealth. Seems to be applying to Theta at the moment with wave 5 finishing at 29 cents and completing a 10 month cup and handle, correcting and continuing higher.
THETA Potential Leg UP A cup and handle is being formed and the handle could possibly be complete by March 7. This means that another push to the upside re-testing and possibly breaking through the 0.15 cent resistance en route to the next level.
THETA Potential Price Targets (Bullish)In this chart you can see the potential price targets we can expect from THETA.
The Green Rectangles show areas that price action can take place with limited resistance, meanwhile the arrows indicate points of heavy resistance that will require substantial effort to break through.
If in every resistance stage a double top is created, means that it doesn't have the required momentum to move forward. Which will lead to correction and a period of consolidation until it attempts to break free for the 3rd time or possibly 4th attempt (Time will tell).
THETAUSD Sell Signal 30% profit potentialTheta is near the end of its extraordinary bullish run and the massive +290% gains. The 1W Resistance is calling for a sell at or just above it. I am looking at a 30% - 40% downside from there.
Targets: 0.12300, 0.10500.
$THETA is now in play (last alert shared here)$THETA is now in play, sorry if the chart is confusing its for members only (they are the only ones that'll understand this)
Theta- break over resPrice broke resistance at 0.91 and seems to be strong enough tobreak through the resistance zone. Nice directional indicator setup. 1st target is 0.99 then i'll review for direction.
