AVAX/USDT – 30M – SELLThe combination Avalanche/Tether (AVAX/USDT) moves from the ascending trendline downwards
A bearish trend down to the next support at 21.510000000 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 22.480000000 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. which could be a negative signal. The pair is likely to go down.
Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is certain. Target of the current trend is 21.92776 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of support at 22.480000000 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three Outside Down’ candle pattern is found. The chart forms ‘Three Outside Down’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 25.980000000 |
| 2nd High | 24.350000000 |
| Next High | 22.480000000 |
| Current Price | 22.240000000 |
| Next Low | 21.510000000 |
| 2nd Low | 20.220000000 |
| 3rd Low | 20.140000000 |
22.480000000 – 22.210000000 – 21.490000000 – 21.510000000 – 20.220000000 – 20.140000000
Trading Signals: FOREX – AVAX – AVAX/USDT – USDT – Three Outside Down