ETH/USDT – 30M – SELLThe combination Ethereum/Tether (ETH/USDT) goes from the descending trendline down.
A continuation of the downtrend downwards to the next support level at 3526.440000000 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 3608.300000000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Shooting Star’ candle pattern is existing. The chart shows ‘Shooting Star’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Shooting Star’ going down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 3673.840000000 |
| 2nd High | 3671.500000000 |
| Next High | 3608.300000000 |
| Current Price | 3654.010000000 |
| Next Low | 3526.440000000 |
| 2nd Low | 3477.580000000 |
| 3rd Low | 3361.200000000 |
3608.300000000 – 3671.500000000 – 3673.840000000 – 3526.440000000 – 3477.580000000 – 3361.200000000
Trading Signals: FOREX – ETH – ETH/USDT – USDT – Shooting Star – Double bottom retreat down