ETH/USDT – 1H – SELLMoreover a ‘Rising Wedge Chart Pattern’ chart formation is found. The chart picture forms ‘Rising Wedge Chart Pattern’. which is a bearish chart scenario. The currency pair is likely to go down.
The currency pair Ethereum/Tether (ETH/USDT) moves from the ascending trendline downwards
A descending movement downwards to the next support line at 2940.240000000 will persist.
Caution: A possible reversal of the trend in the direction of the resistance zone at 3020.310000000 is also possible.
Consider stop-loss settings accordingly.
Moreover a ‘Matching Low’ candlestick chart pattern is existing. The candles show ‘Matching Low’. this is a bullish pattern signal. The currency pair is likely to rise. 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 | |
| 2nd High | 3040.150000000 |
| Next High | 3020.310000000 |
| Current Price | 3050.940000000 |
| Next Low | 2940.240000000 |
| 2nd Low | 2903.850000000 |
| 3rd Low | 2512.000000000 |
3020.310000000 – 2979.780000000 – 3040.150000000 – 2940.240000000 – 2903.850000000 – 2923.320000000
Trading Signals: FOREX – ETH – ETH/USDT – USDT – Matching Low – Rising Wedge Chart Pattern