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

• Strategy

  • For swing traders:

    • Look for buying opportunities. Focus on price behavior between $0.85 – $0.90, especially if a reversal pattern forms.

  • Risk management:

    • Watch the $0.672 level. A break below it invalidates the bullish wave count and requires reassessment.

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.

  • Risk management:

    • If the price drops below $0.672, it challenges the current bullish scenario.

Theta Token Elliott Wave technical analysis [Video]