$THETA is currently displays strong bullish momentum, with a 31.08% daily gain and significant volume. Traders should monitor the resistance at $3.048 and the support at $2.807 for potential breakout or retracement opportunities.
Trading Strategy:
Bullish Scenario: If the price breaks above $3.048 with sustained volume, consider a long position targeting $3.20 or $3.30.
Bearish Scenario: If the price fails to hold above $2.807, expect a pullback toward $2.528 or even $2.464 (MA(99)) for potential support.
Resistance Levels:
Immediate resistance is seen at $3.048, the 24-hour high. A breakout above this level could target higher resistance zones around $3.20.
Support Levels:
Immediate support lies near $2.807, aligning with the most recent consolidation zone.
Additional support can be found at $2.528 (recent pullback area).
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