$THE/USDT - Testing the main resistance after rim rim rim
The price of THE is up by +2.94% to $0.2412, attempting to recover within its daily range. The main technical observation is the price movement below the MA60 resistance at $0.2445. The current volume is below its averages, indicating caution. A clear breakout above the MA60 is required to confirm a stronger bullish reversal.
Key levels:
Support: $0.2335 (24-hour low)
Resistance: $0.2445 (MA60) / $0.2556 (24-hour high)
Trading idea (Short condition at resistance):
Entry area: $0.2440 - $0.2460 (when the price is rejected from MA60)
Stop loss (SL): $0.2485 (above MA60 and recent price structure)
Take profit targets (TP):
TP1: $0.2380 (initial support)
TP2: $0.2335 (retest of 24-hour low)
Logic: The price is facing a convergence of resistance levels at MA60 while showing weakness in volume during rim rim rim. The week's performance (-7.27%) indicates continued selling pressure. This setup favors opening a sell position if the MA60 indicator holds as resistance.