SOL/BTC – 30M – SELLThe currency pair Solana/Bitcoin (SOL/BTC) moves from the descending trendline down.
A continuation of the downtrend downwards to the next support level at 0.002250700 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 0.002377000 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Bearish Engulfing’ candle chart pattern is existing. The candles form ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.002437100 |
| 2nd High | 0.002411300 |
| Next High | 0.002377000 |
| Current Price | 0.002304100 |
| Next Low | 0.002250700 |
| 2nd Low | 0.002247800 |
| 3rd Low | 0.002226800 |
Trading Signals: CRYPTO – SOL – SOL/BTC – BTC – Bearish Engulfing