Theta token Elliott Wave technical analysis [Video]
|THETA/USD – Elliott Wave technical overview
Function: Trend-following.
Mode: Motive.
Structure: Impulse.
Current position: Wave 4.
Next direction at higher degrees: Awaiting development.
Invalidation level: Breach near $0.620 will invalidate the structure.
Theta Token – Trading strategy
Since completing the downward V wave in April, Theta has initiated a strong rebound. The market now moves in a motive wave pattern, progressing toward wave (5) that will finalize major wave I of the uptrend. Waves ① through ④ have formed, and wave ⑤ has just begun, aiming for the 0.618 Fibonacci Extension of waves 1–3 at approximately $1.196. A drop below $0.620 would invalidate the current structure and require a reassessment.
Trading strategies
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Strategy type
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Swing trade strategy for short-term traders
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Momentum or swing traders can look for a small pullback as a potential entry point for long positions.
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Wave ⑤ target range: $1.19 to $1.25.
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Risk management
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Stop-loss guidance: Below $0.82 or at a firm base near $0.72.
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THETA/USD – Elliott Wave technical overview
Function: Trend-following.
Mode: Motive.
Structure: Impulse.
Current Position: Wave 4.
Next direction at higher degrees: Awaiting development.
Invalidation level: Breach near $0.620 will invalidate the structure.
Theta Token – Trading strategy
As the downward wave V ended in April, THETA began forming a new motive wave structure. This pattern progresses into wave (5), which is intended to complete major wave I of this upward cycle. With waves ①–④ completed, wave ⑤ is active, with a price target aligned to the 0.618 Fibonacci Extension of waves 1–3, placing it near $1.196. Breaching the $0.620 level will nullify this wave count.
Trading strategies
-
Strategy type
-
Swing trade strategy for short-term traders
-
Momentum or swing traders may wait for a pullback before initiating long trades.
-
Wave ⑤ price target: $1.19 – $1.25.
-
-
-
Risk management
-
Suggested stop-loss levels: below $0.82 or anchored at $0.72.
-
Theta token Elliott Wave technical analysis [Video]
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