SOL/USDT – 1H – SELLNext a ‘Rising Wedge Chart Pattern’ chart layout is detected. The chart shows ‘Rising Wedge Chart Pattern’. which is a bearish pattern signal. The currency pair is likely to go down.
The combination Solana/Tether (SOL/USDT) moves from the bullish trendline downwards
A descending movement down to the next support level at 174.800000000 is certain.
Caution: A possible change in the direction of resistance at 184.670000000 could be enabled.
Consider stop-loss settings accordingly.
Next a ‘Resistance Level’ indicator signal is found. The indicator is ‘Resistance Level’. which could be a negative chart scenario. The currency pair is likely to fall.
Next a ‘Last Engulfing Top’ candle pattern is found. The chart forms ‘Last Engulfing Top’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 187.710000000 |
| Next High | 184.670000000 |
| Current Price | 177.540000000 |
| Next Low | 174.800000000 |
| 2nd Low | 173.240000000 |
| 3rd Low | 171.210000000 |
184.670000000 – 178.190000000 – 176.000000000 – 174.800000000 – 173.240000000 – 171.210000000
Trading Signals: FOREX – SOL – SOL/USDT – USDT – Last Engulfing Top – Rising Wedge Chart Pattern