ETH/USDT – 30M – SELL

The combination Ethereum/Tether (ETH/USDT) goes from the ascending trendline downwards

A bearish descent downwards to the next support level at 2940.240000000 will continue.

Caution: A possible counter-trend in the direction of the resistance line at 3083.000000000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish chart signal. The currency pair is likely to fall.

Moreover a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. which could be a negative signal. The currency pair is likely to fall.

Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Target of the current trend is 2942.1881 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support zone at 3083.000000000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Three Outside Down’ chart pattern is detected. The candles show ‘Three Outside Down’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

3083.000000000 – 3010.650000000 – 3020.310000000 – 2940.240000000 – 2903.850000000 – 2923.320000000

Trading Signals: FOREX – ETH – ETH/USDT – USDT – Three Outside Down – Symmetrical Triangle Chart Pattern