ETH/USDT – 1H – SELL

The pair Ethereum/Tether (ETH/USDT) jumps from the bullish trendline down.

A descent downwards to the next support at 2309.24 is considered certain.

Caution: A possible trend reversal in the direction of the resistance zone at 2398.93 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Bearish Engulfing’ candle chart pattern is discovered. The candles show ‘Bearish Engulfing’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.

2398.93 – 2343.6 – 2325.28 – 2309.24 – 2297.59 – 2220.36 —
2388.560000000 – 2392.360000000 —
59.60278982866 – 55.318533114881 —
– —
2398.93 – 1777867200

Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Bearish Engulfing – Rising Wedge Chart Pattern – –