AVAX/USDT – 4H – SELLThe pair Avalanche/Tether (AVAX/USDT) moves from the bullish trendline down.
A descending movement downwards to the next support at 17.500000000 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 21.530000000 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Last Engulfing Top’ candlestick chart pattern is discovered. The chart forms ‘Last Engulfing Top’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 24.350000000 |
| 2nd High | 22.660000000 |
| Next High | 21.530000000 |
| Current Price | 21.070000000 |
| Next Low | 17.500000000 |
| 2nd Low | 17.020000000 |
| 3rd Low | 15.610000000 |
21.530000000 – 19.170000000 – 18.280000000 – 17.500000000 – 17.610000000 – 17.020000000
Trading Signals: FOREX – AVAX – AVAX/USDT – USDT – Last Engulfing Top – Double bottom retreat down