The last 4 trading weeks on the THETA market have clearly shown the market’s readiness to reverse. In fact, during the trading month, the THETA price was in the 20% range. Although sellers managed to update the local low from 24 January, buyers managed to stop the phase of active decline. The main range in which buyers with limit orders stopped the attack of buyers is the range of $2.65-$2.8. As of 28 February, sellers were no longer able to lower the THETA price below this range. Of course, in the event of the beginning of the fall of the BTC price, the THETA cryptocurrency will not be able to withstand and repeat the fall. https://www.tradingview.com/x/YPhaUqGq/ However, even in this case, the $2.15 test will be valid to start a local growth wave. Why local? The fact is that the THETA price is in a protracted correction from March 2021 (for a year). The main range of buyers $4.3 was lost in mid-January 2022. Therefore, until they take control of this range – to talk about the global reversal of the THETA market early. However, the price rebound from current values to $4.3 during the month is a very real and logical target. Technical Analysis Of THETA On The Daily Timeframe Analyzing the movement of the THETA price on the daily timeframe, we can see a significant decrease in volatility in recent days. If at the end of February the price range reached 30%, now market participants can only hope for 6%. Continuation of consoli...
