ETH/USDT – 1H – SELLThe currency pair Ethereum/Tether (ETH/USDT) goes from the descending trendline down.
A continuation of the downtrend downwards to the next support line at 4257.200000000 will continue.
Caution: A possible trend reversal in the direction of resistance at 4415.610000000 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The chart forms ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 4663.930000000 |
| 2nd High | 4633.970000000 |
| Next High | 4415.610000000 |
| Current Price | 4350.000000000 |
| Next Low | 4257.200000000 |
| 2nd Low | 4207.390000000 |
| 3rd Low | 4204.200000000 |
4415.610000000 – 4633.970000000 – 4663.930000000 – 4257.200000000 – 4265.000000000 – 4430.000000000 — 47.352730279866 – 44.68537380056
Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Bearish Engulfing – Rising Wedge Chart Pattern – –