ETH/USDT – 1H – BUYThe currency pair Ethereum/Tether (ETH/USDT) breaks through the descending trendline upwards
The bullish trend up to the next resistance at 2858.16 will persist.
Caution: A possible reversal of the trend in the direction of the support level at 2763 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Two-Candle Shooting Star’ candle pattern is found. The chart shows ‘Two-Candle Shooting Star’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two-Candle Shooting Star’ heading down is 61% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 3223.38 |
| 2nd High | 3169.95 |
| Next High | 2858.16 |
| Current Price | 2803.860000000 |
| Next Low | 2763 |
| 2nd Low | 2704.33 |
| 3rd Low | 2623.57 |
2858.16 – 2852.17 – 2806.84 – 2763 – 2704.33 – 2623.57 — 47.051408552535 – 47.154883952771 — 5.3682896379526 – 8.3554647599592 – 20.011349449552 – 11.412249839216
Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Two-Candle Shooting Star – Rising Wedge Chart Pattern – –