#Theta Bull pennant: Bullish continuation. $theta #crypto
#Theta token is consolidating in a bullish continuation pattern- pennant.
Currently at the trendline support at 3320
Stoch-rsi is showing oversold levels
ADX is at 10: weak/no trend.
If we get a break above the resistance line of the pennant and confirmation from volume then
a nice R:R trade setup will be generated, with stop below 3300 level.
Target will be at 4900 level.
Upper resistance level is at 4000 level, once price hits that level, we can expect a retracement so it'll be better to trail Stop losses to break-even price once #theta is at 3900-4000 region.
Currently at the trendline support at 3320
Stoch-rsi is showing oversold levels
ADX is at 10: weak/no trend.
If we get a break above the resistance line of the pennant and confirmation from volume then
a nice R:R trade setup will be generated, with stop below 3300 level.
Target will be at 4900 level.
Upper resistance level is at 4000 level, once price hits that level, we can expect a retracement so it'll be better to trail Stop losses to break-even price once #theta is at 3900-4000 region.