ADA/USDT – 1H – SELLThe pair Cardano/Tether (ADA/USDT) goes from the bullish trendline down.
A descending movement down to the next support at 0.613100000 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 0.642600000 could happen.
Consider stop-loss settings accordingly.
Furthermore a ‘Last Engulfing Top’ candle chart pattern is discovered. The candles show ‘Last Engulfing Top’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.723000000 |
| 2nd High | 0.645000000 |
| Next High | 0.642600000 |
| Current Price | 0.620400000 |
| Next Low | 0.613100000 |
| 2nd Low | 0.585700000 |
| 3rd Low | 0.536600000 |
0.642600000 – 0.645000000 – 0.723000000 – 0.613100000 – 0.623500000 – 0.685900000
Trading Signals: FOREX – ADA – ADA/USDT – USDT – Last Engulfing Top