ETH/USDT – 30M – SELLThe pair Ethereum/Tether (ETH/USDT) moves from the descending trendline downwards
A continuation of the downtrend down to the next support at 3477.580000000 is expected.
Caution: A possible change in the direction of resistance at 3608.300000000 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bearish Engulfing’ candle pattern is found. The chart shows ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 3673.840000000 |
| 2nd High | 3671.500000000 |
| Next High | 3608.300000000 |
| Current Price | 3558.760000000 |
| Next Low | 3477.580000000 |
| 2nd Low | 3361.200000000 |
| 3rd Low | 3310.770000000 |
3608.300000000 – 3671.500000000 – 3673.840000000 – 3477.580000000 – 3361.200000000 – 3310.770000000
Trading Signals: FOREX – ETH – ETH/USDT – USDT – Bearish Engulfing – Rising Wedge Chart Pattern