SOL/USDT – 30M – SELLThe combination Solana/Tether (SOL/USDT) jumps from the bullish trendline down.
A bearish trend downwards to the next support level at 149.580000000 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 161.820000000 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 154.85 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support level at 161.820000000 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three Outside Down’ candle chart pattern is existing. The candles form ‘Three Outside Down’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 173.460000000 |
| 2nd High | 163.640000000 |
| Next High | 161.820000000 |
| Current Price | 158.130000000 |
| Next Low | 149.580000000 |
| 2nd Low | 147.880000000 |
| 3rd Low | 146.840000000 |
161.820000000 – 156.610000000 – 155.300000000 – 149.580000000 – 147.880000000 – 149.150000000
Trading Signals: FOREX – SOL – SOL/USDT – USDT – Three Outside Down