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Cryptoknowmics 2022-04-07 12:20:42

THETA Technical Analysis: Buyers Did Not Go Beyond Consolidation

The last three trading weeks on the THETA market were quite effective for sellers. The main result for pride is raising the THETA price by 60%. Our previous forecast has been realized. Buyers were able to test a critical range of $4.3. And now the question arises, what’s next? In the weekly timeframe, we see that the $4.3 test took place on a large scale. However, the body of the weekly candle is quite small. The small pin on the weekly candle is just within the critical range of $4.3. In our opinion, this is a signal of the unwillingness of sellers to take the initiative in the THETA market. https://www.tradingview.com/x/aRI3LbkI/ The new trading week on the THETA market on 7 April completely absorbed the previous achievements of buyers. Interestingly, for such a victory, sellers needed 3 times less trading volumes than when trying to break buyers’ range of $4.3. This means that buyer has no desire to jealously restrain the price from falling, as actively push it up. A bad sign for a stable growth trend, which indicates a great emotionality of buyers. Though, such emotionality at local highs often works the opposite way. As a result, the consolidation range of $2.3-$4.3 was formed on the weekly THETA timeframe. If buyers can’t keep the $3.2 mark, then the minimum target of sellers is the lower limit of the current consolidation. Technical Analysis Of THETA On The Daily Timeframe https://www.tradingview.com/x/SPph7cv4/ Analyzi...

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THETA Technical Analysis: Buyers Did Not Go Beyond Consolidation

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