$THETA THETA/USDT 1-Hour Analysis: Rally Continues, Bullish Momentum Strong

Market Overview:

• Last Price: $2.980 (+24.32%)

• 24H High: $3.045 – Testing upper resistance levels.

• 24H Low: $2.261 – Significant upward move in a short timeframe.

Indicators:

1. Moving Averages:

• MA(5): $2.795 – Price far above, indicating strong bullish trend.

• MA(50): $2.280 – Major support level below current price.

2. RSI:

• RSI(6): 96.33 – Overbought, but momentum remains strong.

• RSI(12): 90.62 – Extreme strength in bullish direction.

3. MACD:

• Strong bullish crossover confirmed, with increasing upward momentum.

4. OBV:

• Volume spike supports sustained upward price movement.

Support & Resistance:

• Immediate Resistance: $3.100 – Key psychological and technical level.

• Immediate Support: $2.750 – Break below could signal a short-term pullback.

• Secondary Support: $2.500 – Prior consolidation zone and solid support level.

Bullish Trading Plan:

• Entry Point: Consider entries around $2.950–$3.000 on pullbacks.

• Target 1: $3.200 – Next resistance area.

• Target 2: $3.500 – Potential extended target in strong momentum.

• Stop-Loss: $2.800 (to manage downside risk).

Summary:

THETA/USDT has shown exceptional bullish strength, with a significant rally and consistent volume support. While RSI indicates overbought conditions, the strong momentum suggests further upside potential. Traders should monitor for a breakout above $3.100 or look for pullbacks to enter long positions.

Stay tuned for more updates and insights!