After a series of declines, $THE is highly likely to make a strong reversal.
• The pair is in a recovery phase following significant volatility.
• Increased daily volume indicates high trader activity.
EMA(7): The chart shows that the price is approaching the 7-day exponential moving average (EMA), which may indicate an attempt to recover after the recent decline.
RSI (6 and 12): An RSI around 30 indicates an oversold area. This may signal an upcoming bounce upwards if buyers start actively entering the market.
MACD: The MACD data on the chart is minimal, but the decline in volumes suggests a weakening bearish trend.
At its peak, the price reached 4.1855 USDT, but then there was a sharp pullback to 0.1682 USDT. After that, there was moderate growth, which could have been driven by speculative interest and profit-taking at low levels.
Potential levels:
Support: 1.75 USDT
Resistance: 2.05 USDT. If the price breaks this level, a rise to 2.5 USDT is possible.
