Here’s a short technical analysis and trade signal for $THETA

/USDT:

Technical Analysis:🔥💥💯

Price Action: The price is currently testing the $2.13 level, showing a slight retracement after reaching the 24-hour high of $2.17. There’s a minor downtrend forming, with the price hovering just below the mark price of $2.13.

Support Level: $2.10 (previous low).

Resistance Level: $2.17 (24-hour high).

Momentum Indicators: RSI is near the neutral zone (50), suggesting indecision. MACD shows a slight bearish crossover, indicating potential short-term weakness.

Volume: Moderate volume, with a 24h volume of 41.08M USDT, indicating active trading but no extreme pressure in either direction.

Trade Signal & Targets:

Entry: $2.13 (current market price)

Target 1 (Short-term): $2.17 (previous high) – potential resistance zone.

Target 2 (Medium-term): $2.20 – a higher resistance based on market sentiment.

Target 3 (Long-term): $2.25 – if the bullish momentum accelerates.

Trade Momentum:

Bearish Momentum: If price drops below $2.10, expect further downside with potential targets near $2.05.

Bullish Momentum: If the price breaks above $2.17, the bullish momentum may continue toward $2.20 and beyond.

This strategy relies on price action, volume, and momentum indicators for entry and exit. Always consider risk management and adjust your stop-loss levels accordingly.

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