SOL/USDT – 1H – SELLThe combination Solana/Tether (SOL/USDT) jumps from the ascending trendline downwards
The bearish trend downwards to the next support level at 149.580000000 is expected.
Caution: A possible counter-trend in the direction of the resistance line at 161.820000000 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘On Neck’ candle chart pattern is discovered. The candles form ‘On Neck’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘On Neck’ going down is 56% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 175.340000000 |
| 2nd High | 163.640000000 |
| Next High | 161.820000000 |
| Current Price | 156.860000000 |
| Next Low | 149.580000000 |
| 2nd Low | 147.880000000 |
| 3rd Low | 146.840000000 |
161.820000000 – 155.300000000 – 152.840000000 – 149.580000000 – 147.880000000 – 146.840000000