ADA/USDT – 4H – SELLThe currency pair Cardano/Tether (ADA/USDT) jumps from the descending trendline downwards
A continuation of the downtrend down to the next support line at 0.511000000 is likely expected.
Caution: A possible counter-trend in the direction of the resistance zone at 0.723000000 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Southern Doji’ candlestick pattern is found. The chart shows ‘Southern Doji’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Southern Doji’ going up is 51% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.841400000 |
| 2nd High | 0.777100000 |
| Next High | 0.723000000 |
| Current Price | 0.584200000 |
| Next Low | 0.511000000 |
| 2nd Low | |
| 3rd Low |
0.723000000 – 0.707200000 – 0.777100000 – 0.618600000 – 0.654100000 – 0.727700000
Trading Signals: FOREX – ADA – ADA/USDT – USDT – Southern Doji