ETH/USDT – 1H – SELLIn addition a ‘Double top chart pattern’ chart layout is discovered. The chart forms ‘Double top chart pattern’. which is a negative chart scenario. The pair is likely to go down.
The pair Ethereum/Tether (ETH/USDT) goes from the descending trendline downwards
A continuation of the downtrend down to the next support level at 2932.46 is certain.
Caution: A possible change in the direction of resistance at 3223.38 could occur.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Last Engulfing Bottom:’ candle pattern is detected. The candles show ‘Last Engulfing Bottom:’. 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 likelyhood of ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 3256.71 |
| 2nd High | 3249 |
| Next High | 3223.38 |
| Current Price | 2989.760000000 |
| Next Low | 2932.46 |
| 2nd Low | 2903.85 |
| 3rd Low | 2512 |
3223.38 – 3249 – 3230 – 3004 – 3131.78 – 3070 — 39.450355427318 – 36.448184611189 — 62.321796613512 – 64.111780174143 – 49.41067619134 – 57.992017200404
Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Last Engulfing Bottom: – Double top chart pattern – –