SOL/USDT – 1H – SELL

The pair Solana/Tether (SOL/USDT) jumps from the bearish trendline downwards

A continuation of the downtrend down to the next support at 170.290000000 is likely expected.

Caution: A possible reversal of the trend in the direction of resistance at 182.700000000 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘RSI fall below 30’ indicator layout is discovered. The indicator is ‘RSI fall below 30’. which is often a bearish chart scenario. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Current target is 170.29 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support line at 182.700000000 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Three Outside Down’ candle chart pattern is detected. The candles show ‘Three Outside Down’. this 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 ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

182.700000000 – 182.560000000 – 186.680000000 – 170.290000000 – 178.300000000 – 180.670000000 — 37.894407156532 – 36.736685181773

Trading Signals: CRYPTO – SOL – SOL/USDT – USDT – Three Outside Down – Symmetrical Triangle Chart Pattern –