LUNC/USDT – 1H – SELL

The combination Terra Luna Classic/Tether (LUNC/USDT) jumps from the descending trendline down.

A continuation of the bearish trend down to the next support at 0.000055150 is expected.

Caution: A possible change in the direction of the resistance line at 0.000058340 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish signal. The currency pair is likely to fall.

Then a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. which is often a bearish chart scenario. The pair is likely to go down.

Then a ‘On Neck’ candlestick chart pattern is discovered. The chart forms ‘On Neck’. 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 likelyhood of ‘On Neck’ going down is 56% (Bull Market) & 58% (Bear Market).

0.000058340 – 0.000058390 – 0.000061860 – 0.000055150 – 0.000056840 – 0.000056630

Trading Signals: FOREX – LUNC – LUNC/USDT – USDT – On Neck