In addition a ‘Double top chart pattern’ chart formation is detected. The chart forms ‘Double top chart pattern’. this is a bearish chart scenario. The currency pair is likely to go down.
The combination Polkadot/Tether (DOT/USDT) goes from the descending trendline downwards
A continuation of the downtrend down to the next support at 3.250000000 is likely expected.
Caution: A possible change in the direction of the resistance line at 3.508000000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Support Level’ indicator layout is discovered. The indicator is ‘Support Level’. which is often a bearish chart scenario. The currency pair is likely to fall.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 3.33 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support zone at 3.508000000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Support & Resistance | Price Range* |
---|---|
3rd High | 3.595000000 |
2nd High | 3.577000000 |
Next High | 3.508000000 |
Current Price | 3.292000000 |
Next Low | 3.250000000 |
2nd Low | |
3rd Low |
3.508000000 – 3.577000000 – 3.595000000 – 3.330000000 – 3.459000000 – 3.496000000