AVAX/USDT – 30M – SELL

The currency pair Avalanche/Tether (AVAX/USDT) moves from the bullish trendline down.

A descending movement down to the next support level at 23.310000000 is expected.

Caution: A possible trend reversal in the direction of resistance at 25.230000000 is also possible.
Consider stop-loss settings accordingly.

Also there is a ‘Resistance Level’ indicator signal is discovered. The indicator is ‘Resistance Level’. which could be a negative chart scenario. The currency pair could go down.

Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is expected. Target of the current trend is 24.51256 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support line at 25.230000000 is also possible.
Consider stop-loss settings accordingly.

Also there is a ‘Shooting Star’ candle pattern is found. The chart shows ‘Shooting Star’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).

25.230000000 – 24.020000000 – 24.550000000 – 23.310000000 – 23.010000000 – 22.190000000

Trading Signals: FOREX – AVAX – AVAX/USDT – USDT – Shooting Star –