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#Binance #Write2Earrn
Current chart analysis:
Uptrend:
THETA is forming consecutive higher lows (highlighted on the chart), indicating a clear medium to long-term bullish trend.
The price has broken through important resistance levels and is currently consolidating near $2.80-$2.85.
Increasing volume:
Volume shows an increase during bullish moves, which validates buyers’ interest in the asset. This suggests that the price could continue its upward momentum.
Key resistances:
In the short term, the next important psychological level would be $3.00. If it manages to break it on strong volume, THETA could head towards levels near $3.50-$4.00 as the next target.
Maximum projected in the short term:
Based on the current trend slope and chart history, a move towards $4.00-$5.00 seems achievable within this bullish cycle.
$70 expectations for this bullrun:
Expectations of THETA reaching levels close to $70 during this bullrun cycle are based on several factors:
Rise of halving cycles:
Historically, Bitcoin halvings have triggered strong bull runs in the cryptocurrency market. In these cycles, altcoins with solid fundamentals like THETA often experience exponential increases.
THETA's Strong Fundamentals:
THETA is a project related to decentralized video streaming, which places it in a booming sector (Web3). In addition, it has important strategic partnerships (Samsung, Google, etc.), which increases its attractiveness for investors.
Historical technical analysis:
In the 2021 bull cycle, THETA reached an all-time high near $15-$16. If it repeats similar growth or surpasses it, targets of $50-$70 are not far-fetched 😎.
Speculative market effect:
In an extreme bull market, expectations often outstrip fundamentals. This means that traders and investors can speculate on much higher prices if there is strong momentum.
Conclusion:
While $70 may seem ambitious, it is not impossible in a strong bullrun. To reach that level, we would need to see:
An exponential increase in THETA adoption.
Consolidation of its partnerships and use cases.
Extremely favorable market conditions, as in previous cycles.
In the short term, continue to monitor key resistances like $3.00 and $5.00. Being prepared for these levels will be crucial to take advantage of the move! 🚀