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Short-Term Outlook (Next Days to Weeks)
Bullish Scenario:
If the price manages to sustain above the support level around 1.30 and shows a bullish reaction, we could see a bounce towards the 1.35-1.38 area, which would coincide with the next resistance level. Breaking that 1.38-1.40 resistance could lead to a rally towards the 1.44 level, which was the recent high. This would be indicative of a change in short-term sentiment, driving an uptrend.
Bearish Scenario:
If the support at 1.30 is decisively broken and the price falls below this level, THETA is likely to experience a further decline, approaching the next Fibonacci support level, which could be around 1.26 or even 1.20. A break of the ascending trend line could also confirm bearish pressure, and in that case, it is prudent to consider that the price could decline further in the near term.
