AVAX/USDT – 30M – SELLThe combination Avalanche/Tether (AVAX/USDT) jumps from the ascending trendline down.
A bearish trend down to the next support line at 33.630000000 is expected.
Caution: A possible trend reversal in the direction of the resistance zone at 35.170000000 could happen.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Target of the current trend is 33.63 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of support at 35.170000000 could happen.
Consider stop-loss settings accordingly.
Additionally a ‘Bearish Engulfing’ candlestick chart pattern is detected. The candles show ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 35.630000000 |
| 2nd High | 35.420000000 |
| Next High | 35.170000000 |
| Current Price | 33.780000000 |
| Next Low | 33.630000000 |
| 2nd Low | 31.150000000 |
| 3rd Low | 30.590000000 |
Download AVAX/USDT Signal Image
Trading Signals: CRYPTO – AVAX – AVAX/USDT – USDT – Bearish Engulfing