THETA — Trying To Break Out Of Long-Term Downtrend!

Today, Theta is up more than 6% and is about to challenge its long-term downtrend resistance again. A break and confirmation opens the space for a 20% run.

Since Thursday last week, Theta has been up almost 15% and trades right below the major downtrend resistance. This downtrend has been valid for five months and represents a major hurdle.

Since April, Theta has made several attempts but has been rejected every time. A break above this level signals a strong bullish momentum. Once confirmed on a higher timeframe, Theta can quickly rally 20% toward its next resistance between 1.85 - 1.9.

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