ETH/USDT – 1H – SELLThe currency pair Ethereum/Tether (ETH/USDT) goes from the descending trendline down.
A continuation of the downtrend down to the next support line at 1679.11 is expected.
Caution: A possible reversal of the trend in the direction of resistance at 1749.55 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Bearish Engulfing’ candlestick pattern is detected. The candles form ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1810.21 |
| 2nd High | 1796.08 |
| Next High | 1749.55 |
| Current Price | 1728.150000000 |
| Next Low | 1679.11 |
| 2nd Low | 1671.79 |
| 3rd Low | 1654.9 |
1749.55 – 1796.08 – 1810.21 – 1679.11 – 1671.79 – 1722.24 —
1736.440000000 – 1728.460000000 —
52.425888422796 – 49.083509321512 —
– —
1749.55 – 1781967600
Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Bearish Engulfing – – –