Technical Analysis Report: $THE /USDT (4-Hour Chart)

Overview of Price Action:

Current Price: $2.9904

Recent price action indicates bearish momentum, with a decline of -12.39% in the last 24 hours.

The coin experienced a sharp spike earlier (high of $4.1855) followed by a retracement and current consolidation near the $2.99 level.

Key Moving Averages:

MA(7): $3.1575 (indicating short-term bearish trend)

MA(10): $2.99 (support for potential price stabilization)

Key Levels:

Resistance Levels (Red):

$3.45 (short-term resistance)

$3.75 (major resistance)

Support Levels (Green):

$2.88 (local support)

$2.60 (strong psychological support)

Trading Signal:

1. Long Trade:

Entry Price: $3.00 (upon confirmed breakout above MA(7))

Take-Profit Targets:

TP1: $3.20

TP2: $3.50

TP3: $3.75

Stop Loss: $2.75 (to minimize downside risk)

2. Short Trade:

Entry Price: $2.90 (if price closes below $2.88 support)

Take-Profit Targets:

TP1: $2.75

TP2: $2.60

TP3: $2.40

Stop Loss: $3.10 (to protect against unexpected upward spikes)

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Cautionary Notes:

Watch for volume confirmation before entering trades to avoid false breakouts.

The 24-hour high of $3.45 is a critical level to breach for bullish continuation.

The overall market sentiment and volatility should be monitored closely, as low support levels like $2.60 could result in sharp price movements.

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