ETH/USDT – 1H – SELLThe pair Ethereum/Tether (ETH/USDT) goes from the descending trendline down.
A continuation of the downtrend down to the next support at 3716.040000000 will persist.
Caution: A possible trend reversal in the direction of the resistance zone at 3834.030000000 is also possible.
Consider stop-loss settings accordingly.
In addition a ‘RSI fall below 30’ indicator layout is discovered. The indicator is ‘RSI fall below 30’. which could be a negative chart scenario. The currency pair could go down.
In addition a ‘Last Engulfing Bottom:’ candle pattern is found. The candles form ‘Last Engulfing Bottom:’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 3886.440000000 |
| Next High | 3834.030000000 |
| Current Price | 3738.370000000 |
| Next Low | 3716.040000000 |
| 2nd Low | 3709.390000000 |
| 3rd Low | 3599.440000000 |
3834.030000000 – 3886.440000000 – 3782.830000000 – 3716.040000000 – 3709.390000000 – 3599.440000000 — 53.009145262934 – 39.538675133207
Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Last Engulfing Bottom: – Double top chart pattern –