"THEUSDT: Bullish Momentum Building – Targeting $4.35 in 2 weeks

Nov 30, 2024

Analysis:
The current price action on the 4-hour chart of THE/USDT suggests strong potential for a bullish move toward $4.35 in the next two weeks. This analysis is supported by the visible TPO and volume profile structures:

1. TPO Support at $2.70:
The blue line marks a crucial level of TPO concentration at $2.70. This indicates a significant area where buying activity previously dominated, forming a strong base of support. The market has tested this level and rebounded, signaling that buyers are stepping in to protect it.


2. Low TPO Activity Above $3.10:
Above the current price at $3.11, TPO activity decreases significantly, indicating a low-resistance zone for upward movement. Such gaps in TPO profiles often act as vacuum zones, allowing price to rally quickly as supply is limited.


3. High TPO Levels at $4.35:
The $4.35 level coincides with a prior high-TPO concentration, making it a strong magnet for price action. Market participants often target such levels due to historical significance, creating a natural area for profit-taking.


4. Bullish Momentum:
The recent price action has broken through key resistance levels and is building momentum. The rejection of lower prices and steady higher lows indicate a shift in sentiment toward bullishness.



Projection:
Given the clear support at $2.70 and the low-resistance zone above $3.10, the price is likely to test and eventually reach $4.35 within the next two weeks. This upward trajectory aligns with the market structure, TPO analysis, and the presence of aggressive buyers in the current range.

Risk:

Monitor $2.70 support closely; a break below this level could invalidate the bullish thesis.

Watch for potential resistance around $3.80 as an intermediate level.


Stay updated as we track this move toward $4.35!