AVAX/USDT – 30M – SELLThe currency pair Avalanche/Tether (AVAX/USDT) goes from the bearish trendline downwards
A continuation of the downward movement down to the next support line at 30.590000000 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 34.720000000 is within the realm of possibility.
Consider stop-loss settings accordingly.
There is also a ‘Bearish Engulfing’ candlestick pattern is detected. The candles show ‘Bearish Engulfing’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 37.490000000 |
| Next High | 34.720000000 |
| Current Price | 32.230000000 |
| Next Low | 30.590000000 |
| 2nd Low | 30.010000000 |
| 3rd Low | 28.490000000 |