$THETA $THETA $THETA

Key Levels

Support Levels:

  1. $1.980 (short-term support near MA(7)).

  2. $1.920 (24h low and near MA(99)).

Resistance Levels:

  1. $2.050 (24h high).

  2. $2.100 (psychological resistance).

Trade Strategies

Long Trade Setup

  • Entry Zone: $1.980–$2.000 (near MA(7) support).

  • Targets:

    1. $2.050

    2. $2.100

  • Stop Loss: Below $1.950 (break below MA(7)).

Rationale:

  • A retracement near MA(7) followed by a bounce indicates continued bullish momentum.

Short Trade Setup

  • Entry Zone: $2.050–$2.100 (rejection near resistance).

  • Targets:

    1. $1.980

    2. $1.920

  • Stop Loss: Above $2.110 (confirmed breakout).

Rationale:

  • If resistance holds, the price may correct toward the previous support

Risk Management

  • Long Risk-Reward: Target ~2:1 (Entry ~$2.000, Target ~$2.050–$2.100, Stop ~$1.950).

  • Short Risk-Reward: Target ~3:1 (Entry ~$2.050, Target ~$1.980–$1.920, Stop ~$2.110).

Summary

  • Bullish Scenario: Sustained momentum above $2.050 could lead to testing $2.100 or higher.

  • Bearish Scenario: A rejection near $2.050–$2.100 may result in a pullback toward $1.920.

Watch volume and momentum closely to confirm the next move within the $1.980–$2.050 range. Adapt trades based on price action near key levels.

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