THETA/USDT Technical Analysis in a Weekly Timeframe

23 JulHello everyone, I’m Cryptorphic.
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Now, let’s dive into this chart analysis:

The weekly chart for THETA/USDT showcases the continuation of a downtrend, with a significant support level at $1 and a lower support at $0.576.

The current price is facing the 50 EMA resistance, and the action indicates that THETA will test the support trendline and then rebound.

THETA must break above the resistance trendline at $2.5 to continue a higher rally targeting the all-time high level.

Key Observations:

- Primary Support: $1.
- Lower Support: $0.576.
- Primary Resistance: 50 EMA ($1.612).
- Higher Resistance: $2.5.

DYOR, NFA.

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