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📈 Technical Analysis: THETA ($THETA )
Market Capitalization: $186M.
The THETA chart shows a clear downtrend with deep corrections.
🟡 Price is currently trading near a support level and that's precisely what deserves our attention.
How to trade it❔
💬 Buy scenario: if a reversal candle pattern forms above the support level enter a long position. Stop-loss goes below the level, take-profit sits just ahead of the nearest resistance above with a slight buffer.
💬 The risk/reward ratio looks attractive here.
Sell scenario: if a candle closes below the support level open a short.
💬 The profit target equals the height of the last downward impulse. Stop-loss goes behind the nearest extreme.
Wait for confirmation no rushing.
Conclusion:
Two clear scenarios, both with a solid risk/reward ratio. The golden rule: wait for the signal, never enter blind.
📈 Open a trade with $THETA 🔗 Chat • X • JioCoinsX