ETH/USDT – 4H – BUYThe pair Ethereum/Tether (ETH/USDT) breaks through the bearish trendline up.
A bullish trend up to the next resistance line at 3099 will continue.
Caution: A possible counter-trend in the direction of the support level at 2623.57 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Inverted Hammer’ chart pattern is detected. The chart forms ‘Inverted Hammer’. 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 ‘Inverted Hammer’ going up is 65% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 3918.23 |
| 2nd High | 3658.98 |
| Next High | 3099 |
| Current Price | 3034.710000000 |
| Next Low | 2623.57 |
| 2nd Low | 2474.24 |
| 3rd Low | 2373 |
3099 – 2987 – 3658.98 – 2623.57 – 3070 – 3194.2 — 56.457606106226 – 57.618342384556 — 29.180423181544 – 41.207250981125 – 19.892439627069 – 29.482201319241
Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Inverted Hammer – Rising Wedge Chart Pattern – –