Theta Token Elliott Wave technical analysis [Video]
|THETA/USD Elliott Wave technical analysis
Function: Follow trend.
Mode: Motive.
Structure: Impulse.
Position: Wave 4.
Next direction (higher degrees):
Wave invalidation level:
THETA/USD – Trading strategy
Theta (THETA) has recently completed a significant correction, forming a V wave at a key support level. A new upward structure is emerging. The price is forming an Impulse wave I and is now potentially pausing at wave ④. Currently, the price is testing the Fibonacci Retracement zone between 38.2% and 50% (approx. $0.906 – $0.854) from wave ③. If it maintains above this zone and starts to move up again, it may confirm the start of wave ⑤ – the final bullish wave in this sequence.
Trading strategies
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Strategy
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For swing traders:
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Look for buying opportunities. Focus on price behavior between $0.85 – $0.90, especially if a reversal pattern forms.
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Risk management:
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Watch the $0.672 level. A break below it invalidates the bullish wave count and requires reassessment.
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THETA/USD Elliott Wave technical analysis
Function: Follow trend.
Mode: Motive.
Structure: Impulse.
Position: Wave 4.
Next direction (higher degrees):
Wave invalidation level:
THETA/USD – Trading strategy
Theta (THETA) completed a deep correction with a V wave near strong support. A new recovery trend is underway. It’s forming an Impulse wave I and is likely in wave ④. Price is currently testing the 38.2% – 50% Fibonacci zone ($0.906 – $0.854) from wave ③. Holding this range and moving upward would likely signal the start of wave ⑤ – the concluding wave of the trend.
Trading strategies
-
Strategy
-
For swing traders:
-
Monitor closely for buying setups between $0.85 – $0.90, especially if a clear reversal candlestick appears.
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-
Risk management:
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If the price drops below $0.672, it challenges the current bullish scenario.
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Theta Token Elliott Wave technical analysis [Video]
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