$THE is a big scam. 81% of the circulating supply is held by two whales (presumably themselves to control the price). I ask about X and never get a response

$THE

/USDT Technical Analysis and Trade Strategy🎯🚀

Current Market Overview

Price: 2.1470 USDT

24h Change: -12.45%

24h High: 2.4859 USDT

24h Low: 2.0234 USDT

24h Volume (THE): 27.95 million THE

24h Volume (USDT): 63.12 million USDT

The THE/USDT pair is showing significant bearish pressure, trading near its 24h low. This decline may present a buying opportunity if a reversal pattern or key support holds.

Technical Indicators

Bollinger Bands: Price is near the lower Bollinger Band, suggesting potential oversold conditions.

RSI: Likely below 30, indicating the asset is oversold and may experience a rebound.

MACD: Bearish momentum is dominant, but watch for signs of a crossover or divergence to indicate a possible trend reversal.

Moving Averages: Price is trading below the 50-EMA, reinforcing a bearish trend. A move above the 50-EMA could signal a shift to bullish momentum.

Support & Resistance Levels

Support: 2.0234 USDT (24h Low)

Immediate Resistance: 2.4041 USDT

Major Resistance: 2.4859 USDT (24h High)

Trade Setup

Entry Points

1. First Entry: Near 2.0500 USDT if a bullish reversal pattern (e.g., bullish engulfing or hammer) appears.

2. Second Entry: If the price stabilizes above 2.1500 USDT with signs of buying strength.

3. Breakout Entry: Buy on a confirmed breakout above 2.4041 USDT with strong volume.

Stop Loss & Risk Management

Stop Loss: Place a stop loss at 2.0000 USDT to protect against further declines.

Risk/Reward Ratio: Aim for a 1:2 risk/reward ratio to ensure a balanced trade.

Target Levels 🎯

1. First Target: 2.4041 USDT (Immediate Resistance)

2. Second Target: 2.4859 USDT (24h High)

3. Third Target: 2.6000 USDT (Psychological Resistance)

Trade Strategy Summary

Buy on: Support at 2.0500 USDT or breakout above 2.4041 USDT.

Target Levels: 2.4041, 2.4859, 2.6000 USDT.

Stop Loss: Below 2.0000 USDT.

Risk/Reward: Maintain a 1:2 ratio or better.

Additional Tips

Volume Confirmation: Increased volume during a breakout or bounce confirms bullish momentum.
#MOVEOpening