ETH/USDT – 1H – SELLIn addition a ‘Double bottom retreat down’ chart layout is detected. The chart forms ‘Double bottom retreat down’. which is a negative chart scenario. The currency pair is likely to fall.
The currency pair Ethereum/Tether (ETH/USDT) goes from the ascending trendline downwards
A bearish movement downwards to the next support line at 2903.850000000 is likely expected.
Caution: A possible change in the direction of the resistance zone at 2979.780000000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bearish Engulfing’ candlestick chart pattern is found. The candles show ‘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 probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 3040.150000000 |
| Next High | 2979.780000000 |
| Current Price | 2974.580000000 |
| Next Low | 2903.850000000 |
| 2nd Low | 2512.000000000 |
| 3rd Low | 2474.240000000 |
2979.780000000 – 3040.150000000 – 2590.570000000 – 2903.850000000 – 2923.320000000 – 2512.000000000
Trading Signals: FOREX – ETH – ETH/USDT – USDT – Bearish Engulfing – Double bottom retreat down