ETH/USDT – 4H – BUYThe currency pair Ethereum/Tether (ETH/USDT) breaks through the ascending trendline up.
A continuation of the bullish trend up to the next resistance line at 2635.500000000 will persist.
Caution: A possible reversal of the trend in the direction of the support line at 2474.240000000 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. this is usually a bullish chart scenario. The currency pair could go up.
Additionally a ‘Bullish Engulfing’ candlestick pattern is discovered. The chart forms ‘Bullish Engulfing’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 2834.860000000 |
| 2nd High | 2680.340000000 |
| Next High | 2635.500000000 |
| Current Price | 2549.500000000 |
| Next Low | 2474.240000000 |
| 2nd Low | 2373.000000000 |
| 3rd Low | 2111.890000000 |
2635.500000000 – 2525.000000000 – 2520.920000000 – 2474.240000000 – 2373.000000000 – 2382.530000000
Trading Signals: FOREX – ETH – ETH/USDT – USDT – Bullish Engulfing – Head and Shoulder chart pattern