ETH/USDT – 4H – SELLThe combination Ethereum/Tether (ETH/USDT) jumps from the bearish trendline down.
A continuation of the downward movement down to the next support level at 2907.52 is expected.
Caution: A possible trend reversal in the direction of the resistance level at 3240.35 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Last Engulfing Top’ candlestick chart pattern is found. The candles show ‘Last Engulfing Top’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 3918.23 |
| 2nd High | 3658.98 |
| Next High | 3240.35 |
| Current Price | 3123.900000000 |
| Next Low | 2907.52 |
| 2nd Low | 2716.04 |
| 3rd Low | 2623.57 |
3240.35 – 3099 – 2987 – 2907.52 – 2716.04 – 2623.57 — 55.756436347782 – 54.939916808513 — 69.742576954508 – 70.600653772814 – 67.250554391263 – 67.732074215321
Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Last Engulfing Top – Rising Wedge Chart Pattern – –