ADA/USDT – 1H – SELL

The combination Cardano/Tether (ADA/USDT) jumps from the descending trendline down.

A continuation of the downward movement down to the next support at 0.860800000 is expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 0.902600000 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Support Level’ indicator layout is existing. The indicator shows ‘Support Level’. which is often a bearish chart scenario. The currency pair could go down.

Correction of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.853 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.902600000 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘On Neck’ candle chart pattern is existing. The candles show ‘On Neck’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘On Neck’ heading down is 56% (Bull Market) & 58% (Bear Market).

0.902600000 – 0.906500000 – 0.938600000 – 0.887100000 – 0.885500000 – 0.860800000 — 28.783049697047 – 28.521601371083

Trading Signals: CRYPTO – ADA – ADA/USDT – USDT – On Neck – – –