ETH/USDT – 30M – SELL

The pair Ethereum/Tether (ETH/USDT) jumps from the descending trendline down.

A continuation of the bearish trend down to the next support level at 2866.11 is expected.

Caution: A possible reversal of the trend in the direction of the resistance zone at 3069.07 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart scenario. The currency pair is likely to fall.

In addition a ‘%K crosses below %D’ indicator layout is found. The indicator is ‘%K crosses below %D’. which could be a negative chart scenario. The currency pair is likely to fall.

In addition a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. which could be a negative 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. Current target is 2866.11 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of support at 3069.07 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Three Outside Down’ candle pattern is existing. The candles show ‘Three Outside Down’. 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 ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

3069.07 – 3002 – 3236.26 – 2866.11 – 2920 – 3085.17 —
3016.400000000 – 3000.430000000 —
52.984724517226 – 49.339123465176 —
– —
3069.07000 – 1769023800

Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Three Outside Down – – –