ADA/USDT – 4H – SELLThe currency pair Cardano/Tether (ADA/USDT) jumps from the bearish trendline down.
A continuation of the downward movement down to the next support level at is certain.
Caution: A possible counter-trend in the direction of resistance at 0.588400000 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is existing. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative signal. The pair is likely to go down.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Current target is 0.51 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of support at 0.588400000 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Three Outside Down’ candlestick pattern is found. The candles form ‘Three Outside Down’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.777100000 |
| 2nd High | 0.723000000 |
| Next High | 0.588400000 |
| Current Price | 0.567300000 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
0.588400000 – 0.723000000 – 0.707200000 – 0.555000000 – 0.545000000 – 0.510000000
Trading Signals: FOREX – ADA – ADA/USDT – USDT – Three Outside Down –