THETA has been holding its support on the 3D timeframe since February 2021 and even with BTC’s recent downtrend, it has been able to (just about) keep above the ascending support (black line).
With BTC finding local support, many alts have begun to push back up into previous channels and I believe THETA may also push toward the upper line in the long-term. I have marked the potential points of resistance (red lines) on its journey toward the upper trendline. If BTC has another sharp drop in the short-term, THETA will most likely head toward its support at ~3.19 (green line) which will be a 20% fall from current prices (~4.22).
With the current market conditions, I have found that trading with tighter TP targets has proved well.
Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only :)
Please feel free to leave your comments and thoughts below!
With BTC finding local support, many alts have begun to push back up into previous channels and I believe THETA may also push toward the upper line in the long-term. I have marked the potential points of resistance (red lines) on its journey toward the upper trendline. If BTC has another sharp drop in the short-term, THETA will most likely head toward its support at ~3.19 (green line) which will be a 20% fall from current prices (~4.22).
With the current market conditions, I have found that trading with tighter TP targets has proved well.
Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only :)
Please feel free to leave your comments and thoughts below!