Sell AVAX/USDT – 30M – SELL

The pair Avalanche/Tether (AVAX/USDT) jumps from the bearish trendline downwards

A continuation of the bearish trend down to the next support level at 48.320000000 is certain.

Caution: A possible trend reversal in the direction of resistance at 50.860000000 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Current target is 48.1 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of the support line at 50.860000000 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Three Black Crows’ chart pattern is detected. The chart forms ‘Three Black Crows’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.

Support & Resistance Price Range*
3rd High 53.620000000
2nd High 52.050000000
Next High 50.860000000
Current Price 48.530000000
Next Low 48.320000000
2nd Low 48.100000000
3rd Low 42.780000000

Download AVAX/USDT Signal Image

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