Despite the bearish descending triangle pattern dominating $THETA 's chart, there are compelling reasons to believe the cryptocurrency might defy expectations and surge upward. Here's why traders are eyeing a potential breakout:
1. Hidden Bullish Divergence on MACD
While the overall trend suggests downward pressure, the MACD indicator reveals a hidden bullish divergence. This occurs when price action shows lower lows while the MACD histogram or signal line indicates higher lows. Such divergences often hint at an upcoming reversal, making this an essential signal for bullish traders.
2. Bullish Cross on Stochastic Oscillator
The Stochastic Oscillator has formed a bullish crossover, indicating that buying momentum is building. This signal, especially when paired with divergence patterns, strengthens the argument for a potential upward move.
Target Price: $3.20?
If THETA manages to break above the descending triangle, the next resistance level could push the price toward $3.20, offering significant upside potential for those prepared to act on these bullish signals.
⚠️ Disclaimer: This is not financial advice. Always assess risks and trade responsibly.
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