THETA — Trying To Break Out Of Long-Term Downtrend!
Today, Theta is up more than 6% and is about to challenge its long-term downtrend resistance again. A break and confirmation opens the space for a 20% run.
Since Thursday last week, Theta has been up almost 15% and trades right below the major downtrend resistance. This downtrend has been valid for five months and represents a major hurdle.
Since April, Theta has made several attempts but has been rejected every time. A break above this level signals a strong bullish momentum. Once confirmed on a higher timeframe, Theta can quickly rally 20% toward its next resistance between 1.85 - 1.9
