ETH/USDT – 1H – SELL

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

A continuation of the downtrend down to the next support level at 2284.19 will persist.

Caution: A possible trend reversal in the direction of the resistance line at 2423.75 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish chart scenario. The pair is likely to go down.

Next a ‘Support Level’ indicator layout is found. The indicator is ‘Support Level’. this is usually a bearish 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 will persist. Target of the current trend is 2293.08308 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support level at 2423.75 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘On Neck’ candlestick pattern is found. The candles show ‘On Neck’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘On Neck’ going down is 56% (Bull Market) & 58% (Bear Market).

2423.75 – 2338.75 – 2346.78 – 2284.19 – 2252.72 – 2300 —
2372.970000000 – 2345.000000000 —
45.29115959943 – 38.046670917618 —
– —
2423.75 – 1776866400

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