THETA Technical Analysis: Risk Of Falling To $0.6

The THETA price movement in the global fall channel from April 2021 continues. This time, buyers are fighting not for a new growth wave, but for the fall not to accelerate. During the last fall wave of April 2022, the THETA price fell below the lower trend line of the fall channel. As early as 6 weeks, the THETA price is consolidating on the trend line, giving dubious feelings to investors. In addition to the tension near the trend line, it should be understood that buyers have lost control of the $1.5 range. Source: https://www.tradingview.com/x/gZ0nK4jY/ Given this fact, we cannot recommend buying THETA as long as the price is below this range. If by the end of June buyers will not be able to take control of $1.5 – you should expect a reduction of the THETA price to $0.6. The saddest emotions are caused by the THETA trading volumes. There is no struggle or interest in the weekly timeframe. So far, the best case scenario for THETA is the $2.75 test. However, this scenario will become relevant only after breaking up and fixing above the mark of $1.5. THETA Technical Analysis On The Daily Timeframe Source: https://www.tradingview.com/x/W5j9L41B/ Analyzing the movement of the THETA price on the daily timeframe, you can see a dangerous consolidation. The lower limit of consolidation in the range of $1.06 is protected by buyers, the upper in the range of $1.5 by sellers. Thus the local low was updated from 12 May 2022. This kind of consolidation is a bad sign for THETA investors. The fact is that after a powerful fall wave, all that buyers are able to do now – to form a fairly narrow consolidation. Lack of buyers’ initiative means their weakness. so until the price is fixed above $1.5, we will not think about buying this cryptocurrency. THETABTC Price Fell Out Of The Perfect Fall Channel Source: https://www.tradingview.com/x/uRdxoSlh/ The THETABTC weekly chart also shows the weakness of buyers. Although the last weekly candle from 13 June looks strong, buyers have lost an important liquidity level of 0.000035. While the price is below this level, we expect the price to continue falling to 0.0000232. Such a scenario became possible after breaking the structure of the ideal channel of fall. As of 9 May, sellers have been hinting that accelerating the fall is likely to materialize. If the BTC price cannot be fixed above $20,000 – we do not recommend buying THETABTC earlier than 0.0000232.

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