ADA/USDT – 1H – SELLThe pair Cardano/Tether (ADA/USDT) goes from the ascending trendline down.
A descending movement downwards to the next support line at 0.688400000 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 0.777400000 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Last Engulfing Top’ candle pattern is found. The candles form ‘Last Engulfing Top’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.864300000 |
| 2nd High | 0.841400000 |
| Next High | 0.777400000 |
| Current Price | 0.741900000 |
| Next Low | 0.688400000 |
| 2nd Low | 0.572200000 |
| 3rd Low | 0.562900000 |
0.777400000 – 0.594700000 – 0.611900000 – 0.688400000 – 0.693300000 – 0.572200000
Trading Signals: FOREX – ADA – ADA/USDT – USDT – Last Engulfing Top – Rising Wedge Chart Pattern