ETH/USDT – 1H – BUYThe pair Ethereum/Tether (ETH/USDT) breaks through the bearish trendline up.
An ascending movement upwards to the next resistance at 4670.280000000 is expected.
Caution: A possible reversal of the trend in the direction of support at 4466.000000000 should always be considered.
Consider stop-loss settings accordingly.
Also there is a ‘Inverted Hammer’ candlestick pattern is detected. The candles form ‘Inverted Hammer’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Inverted Hammer’ going up is 65% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 4769.360000000 |
| 2nd High | 4692.360000000 |
| Next High | 4670.280000000 |
| Current Price | 4530.820000000 |
| Next Low | 4466.000000000 |
| 2nd Low | 4350.010000000 |
| 3rd Low | 4300.590000000 |
4670.280000000 – 4692.360000000 – 4769.360000000 – 4466.000000000 – 4576.890000000 – 4605.000000000 — 46.951795302841 – 47.517114696852
Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Inverted Hammer – – –