AVAX/USDT – 4H – SELL

The currency pair Avalanche/Tether (AVAX/USDT) goes from the ascending trendline down.

A bearish movement downwards to the next support at will persist.

Caution: A possible counter-trend in the direction of the resistance zone at 26.530000000 could occur.
Consider stop-loss settings accordingly.

Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish chart scenario. The pair is likely to go down.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Target of the current trend is 22.015 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support zone at 26.530000000 could occur.
Consider stop-loss settings accordingly.

Moreover a ‘Matching Low’ chart pattern is found. The candles form ‘Matching Low’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).

26.530000000 – 21.530000000 – 19.170000000 – 22.530000000 – 20.390000000 – 17.500000000 — 43.053441371277 – 42.428694334729

Trading Signals: CRYPTO – AVAX – AVAX/USDT – USDT – Matching Low – –