SOL/USDT – 30M – SELL

The combination Solana/Tether (SOL/USDT) jumps from the bearish trendline down.

A continuation of the downtrend down to the next support level at 185.960000000 is considered certain.

Caution: A possible trend reversal in the direction of the resistance level at 221.740000000 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is considered certain. Current target is 193.5 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of support at 221.740000000 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Bearish Engulfing’ candle pattern is existing. The chart forms ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.

Download SOL/USDT Signal Image

Trading Signals: CRYPTO – SOL – SOL/USDT – USDT – Bearish Engulfing