THETA Tug-of-War: The Downtrend Continues, How to Respond Next?
Market Analysis:
THETA's recent performance has been somewhat tedious, with prices gradually falling under the pressure of bears, and overall still entangled in fluctuations. Although there is some support at the bottom, the pressure from above remains heavy, and neither side is willing to easily give in in the short term. Next, it will depend on whether the key levels can be held or if a counterattack signal appears.
Support and Resistance Levels:
• Support Levels: 2.52, 2.42, 2.30
• Resistance Levels: 2.65, 2.75, 2.85
Short-term Trading Strategy:
Long Strategy:
• Entry Point: 2.52
• Add Position Point: 2.42
• Stop Loss Point: 2.28
• Take Profit Targets: 2.65, 2.75, 2.85
Short Strategy:
• Entry Point: 2.65
• Add Position Point: 2.75
• Stop Loss Point: 2.88
• Take Profit Targets: 2.52, 2.42, 2.30
My Prediction:
Currently, THETA is overall weak, with bears slightly in the lead, and there may still be room for a downward move in the short term. Therefore, it is more suitable to short in the direction of the trend and wait for low-level support before considering a reversal long position.
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