AVAX/USDT – 1H – SELLAlso there is a ‘Rising Wedge Chart Pattern’ chart layout is existing. The formation shows ‘Rising Wedge Chart Pattern’. which is a bearish chart scenario. The pair is likely to go down.
The combination Avalanche/Tether (AVAX/USDT) goes from the ascending trendline downwards
The bearish trend downwards to the next support line at 24.520000000 is certain.
Caution: A possible counter-trend in the direction of resistance at 26.530000000 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Engulfing’ candle pattern is existing. The candles show ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 26.840000000 |
| Next High | 26.530000000 |
| Current Price | 25.300000000 |
| Next Low | 24.520000000 |
| 2nd Low | 23.310000000 |
| 3rd Low | 23.010000000 |
26.530000000 – 25.230000000 – 25.030000000 – 24.520000000 – 23.310000000 – 23.010000000
Trading Signals: FOREX – AVAX – AVAX/USDT – USDT – Bearish Engulfing – Rising Wedge Chart Pattern