ETH/USDT – 1H – SELLThe combination Ethereum/Tether (ETH/USDT) goes from the ascending trendline downwards
The bearish trend down to the next support line at 2940.240000000 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 3040.150000000 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Bearish Engulfing’ candlestick chart pattern is existing. The chart forms ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 3040.150000000 |
| Current Price | 3029.490000000 |
| Next Low | 2940.240000000 |
| 2nd Low | 2903.850000000 |
| 3rd Low | 2512.000000000 |
3020.310000000 – 2979.780000000 – 3040.150000000 – 2940.240000000 – 2903.850000000 – 2923.320000000
Trading Signals: FOREX – ETH – ETH/USDT – USDT – Bearish Engulfing – Double bottom retreat down