ETH/USDT – 1H – SELLThe currency pair Ethereum/Tether (ETH/USDT) jumps from the ascending trendline down.
The bearish trend downwards to the next support at is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 2522.170000000 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is discovered. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish signal. The currency pair could go down.
Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Current target is 2413.01858 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support level at 2522.170000000 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three Black Crows’ candle pattern is existing. The candles form ‘Three Black Crows’. 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 success rate of a ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 2546.910000000 |
| 2nd High | 2525.000000000 |
| Next High | 2522.170000000 |
| Current Price | 2437.350000000 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
2522.170000000 – 2525.000000000 – 2463.880000000 – 2431.000000000 – 2412.000000000 – 2382.530000000
Trading Signals: FOREX – ETH – ETH/USDT – USDT – Three Black Crows – Double top chart pattern