AVAX/USDT – 1H – SELLAlso there is a ‘Rising Wedge Chart Pattern’ chart pattern is detected. The formation shows ‘Rising Wedge Chart Pattern’. which is a bearish signal. The currency pair is likely to go down.
The currency pair Avalanche/Tether (AVAX/USDT) jumps from the ascending trendline down.
A bearish descent downwards to the next support level at 17.020000000 will persist.
Caution: A possible counter-trend in the direction of resistance at 18.900000000 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. this is usually a bearish signal. The currency pair is likely to fall.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Target of the current trend is 17.255 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 18.900000000 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Inside Down’ candlestick chart pattern is existing. The candles form ‘Three Inside Down’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Inside Down’ heading down is 60% (Bull Market) & 63% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 22.660000000 |
| 2nd High | 20.000000000 |
| Next High | 18.900000000 |
| Current Price | 18.040000000 |
| Next Low | 17.020000000 |
| 2nd Low | 15.610000000 |
| 3rd Low |
18.900000000 – 18.170000000 – 18.020000000 – 17.020000000 – 15.610000000 – 16.320000000
Trading Signals: FOREX – AVAX – AVAX/USDT – USDT – Three Inside Down – Rising Wedge Chart Pattern