SOL/USDT – 1H – SELLThe combination Solana/Tether (SOL/USDT) jumps from the bullish trendline down.
A bearish descent downwards to the next support at 177.800000000 will continue.
Caution: A possible trend reversal in the direction of the resistance line at should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Bearish Engulfing’ chart pattern is found. The chart forms ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 195.150000000 |
| Next Low | 177.800000000 |
| 2nd Low | 174.800000000 |
| 3rd Low | 173.240000000 |
184.670000000 – 178.190000000 – 176.000000000 – 177.800000000 – 174.800000000 – 173.240000000
Trading Signals: FOREX – SOL – SOL/USDT – USDT – Bearish Engulfing – Rising Wedge Chart Pattern