The THE/USDT market has been experiencing significant volatility recently, with a decrease of up to -15.39% compared to the previous day. The current price is 1.3475 USD, with a high and low in the past 24 hours of 1.6155 USD and 1.3167 USD, respectively.
📊 Total trading volume reached 20.69M THE in the past 24 hours, indicating considerable interest from investors. This may be a sign of necessary short-term adjustments.
🧐 Investors should closely monitor factors influencing prices and prepare appropriate strategies. Let's wait and see what the next developments will be!
The allocation has few tokens but why is it so deep? The transaction is very bumpy. Or is $THE different from $BIO ? Support $BIO to enter the market, that's why. You guys grasp the aspects, discuss for me.
Analysis of the Converging Triangle Model (THE/USDT)
The trading pair THE/USDT is forming a converging triangle pattern on the 4H timeframe, a sign that the market is in a consolidation phase before a strong breakout.
Key features: • Decreasing resistance line: Price is under pressure from selling forces. • Increasing support line: Buyers are pushing the price up, creating opposing pressure. • Trading volume: Decreasing within the triangle, indicating market hesitation.
Potential scenarios: 1. Bullish breakout: If the price breaks above the resistance line (area 1.64-1.65) with high volume, the price target could reach the range of 1.90 - 2.00 USDT. 2. Bearish breakdown: If the price falls below the support line (area 1.50), the target for decline will aim towards 1.30 - 1.20 USDT.
Trading strategy: • Entry point: Wait for a clear breakout accompanied by high volume. • Stop loss: Set below the breakout point by 3-5%. • Take profit: Based on the height of the triangle (approximately 0.50 USDT).
Be patient and wait for a clear signal before taking action to optimize profits and effectively manage risks. #the $THE