ETH/USDT – 30M – SELLThe combination Ethereum/Tether (ETH/USDT) jumps from the descending trendline down.
A continuation of the downtrend downwards to the next support line at 3308.870000000 will persist.
Caution: A possible trend reversal in the direction of the resistance zone at 3419.000000000 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Target of the current trend is 3371.11 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support level at 3419.000000000 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Two Crows’ chart pattern is discovered. The chart forms ‘Two Crows’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 3437.590000000 |
| 2nd High | 3434.350000000 |
| Next High | 3419.000000000 |
| Current Price | 3363.420000000 |
| Next Low | 3308.870000000 |
| 2nd Low | 3305.000000000 |
| 3rd Low | 3304.630000000 |