$THETA is currently trading in a symmetrical triangle pattern on the 4 hour chart.

This is a continuation pattern which means the price could break out in either direction depending on market momentum.

Key Levels to Watch.

1. Current Price: Monitor the price near the triangle’s apex.

2. Resistance Level (Upper Boundary): Around $2.75 - $2.83

3. Support Level (Lower Boundary): Around $2.60 - $2.65

Trading Plan.

Buy Zone:

Enter a buy position after breakout confirmation above $2.83.

Targets:

1. Target 1: $3.00

2. Target 2: $3.20

Stop Loss:

Place your stop loss around $2.60 to minimize losses in case of a false breakout.

Breakout Scenario.

1. Bullish Breakout: If price closes above $2.83 with strong volume it may rally toward $3.20.

This move would align with the bullish market sentiment.

2. Bearish Breakdown: If price falls below $2.60 avoid buying.

Bears could take control pushing $THETA to lower levels around $2.40.

Key Indicators.

1. Volume: A breakout needs to be supported by high trading volume.

2. RSI: Overbought conditions above 70 could indicate caution during a bullish breakout.

3. MACD: Watch for bullish crossover as a confirmation signal.

Pro Tip.

Be patient and wait for a confirmed breakout before taking any trade.

Always risk only 1-2% of your capital on a single trade to manage risks effectively.

Would you like me to generate a chart for better visualization.

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