SOL/USDT – 4H – SELL

The currency pair Solana/Tether (SOL/USDT) jumps from the bullish trendline down.

A descending movement downwards to the next support at 145.220000000 will persist.

Caution: A possible counter-trend in the direction of the resistance level at 167.460000000 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Bearish Engulfing’ candlestick chart pattern is found. The chart forms ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.

159.990000000 – 154.330000000 – 167.460000000 – 145.220000000 – 137.140000000 – 126.000000000

Trading Signals: FOREX – SOL – SOL/USDT – USDT – Bearish Engulfing –