🔷️ Despite sharp declines in both #BTC and #ETH , $THE ( @ThenaFi_ ) continues to show strength in the crypto market. The cup formation on the weekly timeframe remains valid. Additionally, the previously formed ascending parallel channel had broken out to the upside; however, during the recent market drop, the price failed to hold the retest zone.
📌 Reclaiming this broken channel would be technically valuable for a potential continuation of the upward movement. If price manages to re-enter and stay above that level, renewed bullish momentum may be seen.
✅️ If the cup formation plays out, potential resistance levels are indicated by the yellow lines based on Fibonacci retracement.
📊 Key Technical Indicators:
✅ MACD (Weekly): Still in positive territory and maintaining a slight upward slope; suggesting continued buyer interest.
⚠️ RSI (~51): In neutral zone with no clear direction yet. A close above 55 could signal renewed bullish strength.
⚠️ ADX (~21): Trend strength remains weak. A move above 25 is needed to confirm a strong trend.
✅ OBV (On-Balance Volume): Trending positively in recent weeks, indicating increasing volume support behind the price.
⚠️ Stochastic RSI: Recovering from the oversold zone, but no clear bullish crossover yet needs close monitoring.
📌 The overall technical structure is moderately positive. For further bullish confirmation, reclaiming key resistance zones and stronger indicator signals will be essential.
⚠️ This content is not investment advice. Crypto assets carry high volatility. Please do your own research before making any trading decisions.
