SOL/USDT – 1H – SELL

In addition a ‘Rising Wedge Chart Pattern’ chart formation is existing. The chart picture shows ‘Rising Wedge Chart Pattern’. which is a negative chart scenario. The pair is likely to go down.

The currency pair Solana/Tether (SOL/USDT) moves from the bullish trendline down.

A descent down to the next support line at 177.510000000 is expected.

Caution: A possible trend reversal in the direction of the resistance zone at 186.180000000 could occur.
Consider stop-loss settings accordingly.

In addition a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bearish chart scenario. The currency pair is likely to fall.

In addition a ‘RSI cross above 30’ indicator signal is detected. The indicator is ‘RSI cross above 30’. this is usually a bearish chart scenario. The currency pair is likely to fall.

In addition a ‘StochRSI cross above 20’ indicator signal is detected. The indicator is ‘StochRSI cross above 20’. this is usually a bearish chart scenario. The currency pair is likely to fall.

In addition a ‘Resistance Level’ indicator signal is existing. The indicator is ‘Resistance Level’. which could be a negative chart signal. The currency pair is likely to fall.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Target of the current trend is 173.655 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support zone at 186.180000000 could occur.
Consider stop-loss settings accordingly.

In addition a ‘Matching Low’ candle pattern is detected. The candles show ‘Matching Low’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ going up is 61% (Bull & Bear Market).

186.180000000 – 179.660000000 – 169.930000000 – 177.510000000 – 167.000000000 – 166.700000000 — 37.853287653557 – 37.112883784023

Trading Signals: CRYPTO – SOL – SOL/USDT – USDT – Matching Low – Rising Wedge Chart Pattern – –