THETA: Towards retesting a huge accumulation range

10 พ.ค.

THETAUSDT has a somewhat similar configuration to the LPTUSDT we talked about in previous weeks. It is showing a very strong retracement, allowing it to come back to the upper region of a huge accumulation range.

This type of movement is often a real opportunity for late buyers! Especially as this zone on the Theta Network is completed by the two biggest Vegas (Daily and Weekly) of the Trend Identifier (BTI), which overlap entirely, providing very solid support.

A move back towards $1.75 therefore looks like a great buying opportunity, especially if we get a complementary signal from the Reversal Identifier (BRI).

Otherwise, THETA could lateralize on its current level just to recover from its recent heavy fall, before resuming its uptrend.