THETA Holding the Line – A Hidden Gem Before the Next Altseason?
🔍 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.
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