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 o...
