🔍 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.
#THETAUSDT #THETA #CryptoAnalysis #TechnicalAnalysis #CryptoBreakout #BullishReversal #AltcoinSeason #SupportAndResistance #DoubleBottom #SwingTrade
✅ Get Free Signals! Join Our Telegram Channel Here: t.me/TheCryptoNuclear
✅ Twitter: twitter.com/crypto_nuclear
✅ Join Bybit : partner.bybit.com/b/nuclearvip
✅ Benefits : Lifetime Trading Fee Discount -50%
✅ Twitter: twitter.com/crypto_nuclear
✅ Join Bybit : partner.bybit.com/b/nuclearvip
✅ Benefits : Lifetime Trading Fee Discount -50%
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅ Get Free Signals! Join Our Telegram Channel Here: t.me/TheCryptoNuclear
✅ Twitter: twitter.com/crypto_nuclear
✅ Join Bybit : partner.bybit.com/b/nuclearvip
✅ Benefits : Lifetime Trading Fee Discount -50%
✅ Twitter: twitter.com/crypto_nuclear
✅ Join Bybit : partner.bybit.com/b/nuclearvip
✅ Benefits : Lifetime Trading Fee Discount -50%
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.