ETH/USDT – 30M – SELL

The currency pair Ethereum/Tether (ETH/USDT) goes from the bearish trendline down.

A continuation of the downward movement down to the next support at 3216.970000000 is likely expected.

Caution: A possible trend reversal in the direction of the resistance zone at 3386.360000000 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is likely expected. Current target is 3306.41 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support line at 3386.360000000 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘Bearish Belt Hold’ candle pattern is existing. The candles form ‘Bearish Belt Hold’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).

Download ETH/USDT Signal Image

Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Bearish Belt Hold