ICP/USDT – 30M – SELL

The currency pair Internet Computer/Tether (ICP/USDT) goes from the bearish trendline downwards

A continuation of the downtrend down to the next support level at 2.443 is likely expected.

Caution: A possible counter-trend in the direction of resistance at 2.487 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which could be a negative signal. The currency pair is likely to fall.

Next a ‘StochRSI %K line crosses below %D line’ indicator layout is found. The indicator shows ‘StochRSI %K line crosses below %D line’. which could be a negative signal. The currency pair is likely to fall.

Next a ‘Resistance Level’ indicator layout is existing. The indicator shows ‘Resistance Level’. which could be a negative chart signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 2.467 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support zone at 2.487 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Bearish Engulfing’ candlestick pattern is discovered. The candles form ‘Bearish Engulfing’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.

2.487 – 2.499 – 2.498 – 2.443 – 2.445 – 2.45 —
2.473000000 – 2.481000000 —
52.180784446047 – 59.988820880778 —
– —
2.487 – 1777064400

Trading Signals: CRYPTO – ICP – ICP/USDT – USDT – Bearish Engulfing – Symmetrical Triangle Chart Pattern – –