THETAUSDT

$THETA

🔍 Chart Structure and Key Zones:

Timeframe: 1W (Weekly)

Major Historical Support: The yellow zone between $0.55 - $0.70 has been tested multiple times since 2021.

The current price is once again retesting this strong support area, showing signs of a potential bullish bounce.

📈 Bullish Scenario:

If the support at $0.696 holds and triggers a reversal:

Potential short-term targets are:

$1.029 as the first minor resistance

Breakout above $1.658 could lead to a rally toward:

$3.047

$3.50

$4.216

If bullish momentum sustains, long-term targets include:

$8.154

$12.742

And possibly a retest of the all-time high at $15.880

> This price action suggests the formation of a potential Double Bottom pattern — a classic bullish reversal signal on higher timeframes.

📉 Bearish Scenario:

If price breaks below the support zone of $0.696 – $0.55:

The bullish setup becomes invalidated.

There is little significant support below $0.55, which could lead to an aggressive selloff.

This would indicate a possible final capitulation phase before a true macro bottom is formed.

📊 Chart Pattern Insight:

Potential Double Bottom forming in a high-confluence support zone

Signs of accumulation structure with long lower wicks (indicating buyers stepping in)

Bullish impulse projection is marked if a breakout confirms

🔖 Conclusion:

The $0.55 - $0.70 zone is a critical turning point for THETA.

If held, this could mark the beginning of a long-term trend reversal.

The current setup offers a favorable risk-reward ratio for swing and long-term traders, though caution is needed if the support fails.

#THETAUSDT #THETA #CryptoAnalysis #TechnicalAnalysis #CryptoBreakout