SOL/USDT – 1H – SELL

The currency pair Solana/Tether (SOL/USDT) moves from the descending trendline down.

A continuation of the downtrend down to the next support line at 159.440000000 is expected.

Caution: A possible counter-trend in the direction of the resistance level at 174.210000000 could be enabled.
Consider stop-loss settings accordingly.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 165.44384 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of support at 174.210000000 could be enabled.
Consider stop-loss settings accordingly.

Besides a ‘Bearish Engulfing’ candlestick pattern is existing. The candles form ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.

Download SOL/USDT Signal Image

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