ETH/USDT – 1H – SELL

The combination Ethereum/Tether (ETH/USDT) moves from the descending trendline down.

A continuation of the bearish trend down to the next support level at 2899.77 is expected.

Caution: A possible change in the direction of the resistance level at 3045.78 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘StochRSI %K line crosses below %D line’ indicator signal is existing. The indicator shows ‘StochRSI %K line crosses below %D line’. which is often a bearish chart signal. The currency pair could go down.

Besides a ‘Resistance Level’ indicator signal is discovered. The indicator is ‘Resistance Level’. which could be a negative chart scenario. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 2915.89236 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of support at 3045.78 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Three Outside Down’ candlestick pattern is discovered. The candles form ‘Three Outside Down’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

3045.78 – 3035.08 – 2957.04 – 2983.67 – 2899.77 – 2875.77 —
3013.500000000 – 2964.930000000 —
51.492614738301 – 39.436390859806 —
– —
3045.78000 – 1769605200

Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Three Outside Down – – –