The chart shows a significant downtrend in $THE /USDT, currently trading at $1.3668 (-12.13%). Hereโs an in-depth analysis and trading insight for this movement:
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๐ Key Market Insights
1. Critical Resistance: $1.6150, the recent high, marked strong selling pressure, pushing prices downward.
2. Support Levels in Focus: Immediate support lies at $1.3396. A breakdown here could lead to a further drop toward $1.26.
3. MACD Analysis: A bearish crossover is evident, with decreasing histogram bars indicating growing downward momentum.
4. Volume Check: Declining trade volume reflects reduced buyer activity, further pressuring the price.
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๐จ Trading Strategies
For Short Sellers: A break below $1.3396 could provide opportunities to target $1.26 or lower.
For Long Traders: Wait for a confirmed reversal above $1.40 with increasing volume before entering long positions.
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๐ก Outlook
Bearish sentiment dominates $THE/USDT in the short term. Bulls must reclaim $1.40โ$1.45 to shift momentum. Until then, caution is advised as the asset remains vulnerable to further declines.
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