AVAX/USDT – 30M – SELLThe currency pair moves from the ascending trendline downwards
A descent downwards to the next support level at 32.170000000 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 34.720000000 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Target of the current trend is 30.416 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support level at 34.720000000 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Three Black Crows’ candle pattern is found. The chart shows ‘Three Black Crows’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 37.490000000 |
| Next High | 34.720000000 |
| Current Price | 32.520000000 |
| Next Low | 32.170000000 |
| 2nd Low | 30.700000000 |
| 3rd Low | 30.010000000 |