ETH/USDT – 4H – SELLThe combination Ethereum/Tether (ETH/USDT) goes from the ascending trendline downwards
A bearish trend down to the next support level at 2474.240000000 is considered certain.
Caution: A possible counter-trend in the direction of the resistance level at 3040.150000000 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bearish Engulfing’ candle pattern is found. The chart forms ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 3040.150000000 |
| Current Price | 3029.490000000 |
| Next Low | 2474.240000000 |
| 2nd Low | 2373.000000000 |
| 3rd Low | 2111.890000000 |
3040.150000000 – 2635.500000000 – 2525.000000000 – 2474.240000000 – 2373.000000000 – 2382.530000000
Trading Signals: FOREX – ETH – ETH/USDT – USDT – Bearish Engulfing – Double bottom retreat down