ETH/USDT – 1H – SELLAnd also a ‘Rising Wedge Chart Pattern’ chart formation is detected. The chart picture forms ‘Rising Wedge Chart Pattern’. this is a bearish chart scenario. The pair is likely to go down.
The pair Ethereum/Tether (ETH/USDT) moves from the bullish trendline downwards
The bearish trend down to the next support level at 2940.240000000 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 3020.310000000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Matching Low’ candle pattern is found. The candles show ‘Matching Low’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 3040.150000000 |
| Next High | 3020.310000000 |
| Current Price | 3050.940000000 |
| Next Low | 2940.240000000 |
| 2nd Low | 2903.850000000 |
| 3rd Low | 2512.000000000 |
3020.310000000 – 2979.780000000 – 3040.150000000 – 2940.240000000 – 2903.850000000 – 2923.320000000
Trading Signals: FOREX – ETH – ETH/USDT – USDT – Matching Low – Rising Wedge Chart Pattern