SOL/USDT – 1H – BUYThe pair Solana/Tether (SOL/USDT) jumps from the descending trendline downwards
A continuation of the downtrend downwards to the next support level at 188.000000000 is expected.
Caution: A possible counter-trend in the direction of the resistance line at 223.180000000 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘In-Neck’ candle chart pattern is detected. The candles show ‘In-Neck’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘In-Neck’ going down is 53% (Bull Market) & 65% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 234.690000000 |
| 2nd High | 227.560000000 |
| Next High | 223.180000000 |
| Current Price | 197.130000000 |
| Next Low | 188.000000000 |
| 2nd Low | 185.890000000 |
| 3rd Low | 182.740000000 |