Theta token Elliott Wave technical analysis [Video]

THETAUSD Elliott Wave technical analysis

• Function: Counter-Trend.

• Mode: Corrective.

• Structure: Zigzag.

• Position: Wave C.

• Direction of next higher degree: —

• Wave cancel invalid level: —

THETA is forming a classic a-b-c corrective wave pattern. Wave c appears to have completed at $0.7595. A recovery has started from this level, suggesting a base-building phase. The next significant resistance area lies between $1.00 and $1.15. The structure within wave c has finished five sub-waves, signaling that the rebound is the start of wave ①, potentially initiating a new upward trend.

Key Resistance: $1.00 – $1.15.

If the price breaks and holds above this zone, a stronger uptrend may follow.

Trading Strategies

• Strategy

  • For Short-Term Traders (Swing Trade):

    • Wait for a breakout above $1.00 – $1.15 and confirmation before entering a Buy position.

• Risk Management

  • Key Support: $0.76 (Previous Low)

    • A drop below this level suggests the current wave structure is invalid.

THETAUSD Elliott Wave Technical Analysis

• Function: Counter-Trend.

• Mode: Corrective.

• Structure: Zigzag.

• Position: Wave C.

• Direction of next higher degree: —

• Wave cancel invalid level: —

On the 4-hour timeframe, THETA mirrors the daily chart structure, following an a-b-c correction. Wave c concluded at $0.7595 and the price has started rebounding from this level. Resistance remains at $1.00 to $1.15. The sub-wave structure inside wave c appears complete, implying that wave ① is starting a new bullish cycle.

Key Resistance: $1.00 – $1.15
A confirmed break above could initiate a sustained upward move.

Trading strategies

• Strategy

  • For Short-Term Traders (Swing Trade):

    • Look for a confirmed break above $1.00 – $1.15 to enter a Buy trade.

• Risk management

  • Key Support: $0.76.

    • A move below this level may invalidate the corrective wave pattern.

Analyst: Kittiampon Somboonsod, CEWA – TradingLounge.com (Get your trial!).

THETAUSD Elliott Wave technical analysis [Video]