AVAX/USDT – 1H – SELLThe currency pair Avalanche/Tether (AVAX/USDT) jumps from the ascending trendline downwards
The bearish trend downwards to the next support line at 20.220000000 is likely expected.
Caution: A possible change in the direction of the resistance zone at 24.350000000 should always be considered.
Consider stop-loss settings accordingly.
There is also a ‘Three Outside Down’ chart pattern is existing. The candles form ‘Three Outside Down’. 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 chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 26.840000000 |
| 2nd High | 25.980000000 |
| Next High | 24.350000000 |
| Current Price | 22.100000000 |
| Next Low | 20.220000000 |
| 2nd Low | 20.140000000 |
| 3rd Low | 18.430000000 |
22.210000000 – 21.490000000 – 21.130000000 – 20.220000000 – 20.140000000 – 18.430000000
Trading Signals: FOREX – AVAX – AVAX/USDT – USDT – Three Outside Down