ETH/USDT – 1H – SELLAlso there is a ‘Triple bottom chart pattern’ chart layout is discovered. The chart picture shows ‘Triple bottom chart pattern’. which is a positive signal. The currency pair is likely to rise.
The pair Ethereum/Tether (ETH/USDT) moves from the bullish trendline down.
A descending movement downwards to the next support level at 2932.460000000 is expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 3480.190000000 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Bearish Engulfing’ chart pattern is existing. The candles show ‘Bearish Engulfing’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 3480.190000000 |
| Current Price | 3412.330000000 |
| Next Low | 2932.460000000 |
| 2nd Low | 2903.850000000 |
| 3rd Low | 2512.000000000 |
3480.190000000 – 3083.000000000 – 3020.310000000 – 2932.460000000 – 2940.240000000 – 2903.850000000
Trading Signals: FOREX – ETH – ETH/USDT – USDT – Bearish Engulfing – Triple bottom chart pattern