THETA technical analysis

THETA seen from the temporality of 1D we can see how the structure of candles has formed the figure of a symmetrical triangle, the minima are being higher and higher while the maxima are being lower and lower, in simple terms this means that the buying force is increasing compared to the selling force, which in most cases, this ends up breaking the bullish figure.

The current candle is finding demand in the support located at 0.10790, it does not seem to be a very strong support, so the price could fall to the support diagonally forming a third touch that would be a great signal to buy, for the price to continue rising will have to recover the support mentioned above in case the price falls, in the chart I have indicated our first target located at 0.15072.

In conclusion, THETA presents a good figure to offer us gains in the short or medium term, a third test in the major support and the price could come up in search of the break, however, we must be very attentive to the implications that have the sudden movements of BTC, which affect the whole market, if the price of THET fails to hold the support, the price would come down to the first zone of demand located at 0.09210, where the price could find a recovery pullback and continue to rise, otherwise, our second demand zone is located at 0.07888, this zone represents the minimum historical THETA binance, so it should be an important buying zone.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

You can follow me on Twitter: https://twitter.com/armijogarcia

About the author: luis garcia
Technical Market Analyst Crypto trader

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