AVAX/USDT – 1H – SELLThe currency pair Avalanche/Tether (AVAX/USDT) goes from the descending trendline downwards
A continuation of the downward movement downwards to the next support line at 17.020000000 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 18.900000000 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Resistance Level’ indicator signal is existing. The indicator is ‘Resistance Level’. this is usually a bearish signal. The pair is likely to go down.
And also a ‘Matching Low’ candle pattern is found. The chart forms ‘Matching Low’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 22.660000000 |
| 2nd High | 20.000000000 |
| Next High | 18.900000000 |
| Current Price | 17.960000000 |
| Next Low | 17.020000000 |
| 2nd Low | 15.610000000 |
| 3rd Low |
18.900000000 – 18.170000000 – 18.020000000 – 17.020000000 – 15.610000000 – 16.320000000
Trading Signals: FOREX – AVAX – AVAX/USDT – USDT – Matching Low –