ADA/USDT – 1H – SELLThe combination Cardano/Tether (ADA/USDT) jumps from the bullish trendline down.
A descending movement downwards to the next support at 0.685900000 is certain.
Caution: A possible counter-trend in the direction of the resistance zone at 0.715800000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Resistance Level’ indicator layout is existing. The indicator is ‘Resistance Level’. which could be a negative chart signal. The currency pair could go down.
Correction of the major bullish trend broke through the Fibonacci 0-Level.Continuation of the current descending trend is certain. Current target is 0.7001296 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support zone at 0.715800000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three Outside Down’ chart pattern is detected. The candles show ‘Three Outside Down’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.761400000 |
| 2nd High | 0.760100000 |
| Next High | 0.715800000 |
| Current Price | 0.710900000 |
| Next Low | 0.685900000 |
| 2nd Low | 0.656500000 |
| 3rd Low | 0.651700000 |
0.715800000 – 0.679600000 – 0.670800000 – 0.685900000 – 0.656500000 – 0.651700000
Trading Signals: FOREX – ADA – ADA/USDT – USDT – Three Outside Down