ETH/USDT – 1H – BUYThe combination Ethereum/Tether (ETH/USDT) jumps from the bearish trendline up.
An ascending movement up to the next resistance at 3169.95 is likely expected.
Caution: A possible reversal of the trend in the direction of the support line at 2623.57 could happen.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is likely expected. Current target is 2936.285 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 3169.95 could happen.
Consider stop-loss settings accordingly.
Besides a ‘Shooting Star’ candle pattern is detected. The candles form ‘Shooting Star’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Shooting Star’ going down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 3249 |
| 2nd High | 3223.38 |
| Next High | 3169.95 |
| Current Price | 2766.350000000 |
| Next Low | 2623.57 |
| 2nd Low | 2512 |
| 3rd Low | 2474.24 |
3169.95 – 3223.38 – 3249 – 2623.57 – 2946.56 – 3004 — 46.929942645305 – 46.996543437181 — 90.263090676884 – 90.886334610473 – 86.191570881226 – 87.807577692635
Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Shooting Star – – –