ADA/USDT – 1H – SELL

The combination Cardano/Tether (ADA/USDT) jumps from the bearish trendline down.

A continuation of the downward movement down to the next support level at 0.708500000 is likely expected.

Caution: A possible change in the direction of the resistance zone at 0.789300000 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Support Level’ indicator layout is existing. The indicator is ‘Support Level’. this is usually a bearish chart signal. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Current target is 0.7085 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support level at 0.789300000 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘On Neck’ candle pattern is found. The chart shows ‘On Neck’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘On Neck’ heading down is 56% (Bull Market) & 58% (Bear Market).

0.789300000 – 0.789800000 – 0.809900000 – 0.708500000 – 0.730100000 – 0.769400000 — 41.486388556688 – 40.091630091962

Trading Signals: CRYPTO – ADA – ADA/USDT – USDT – On Neck – – –