ETH/USDT – 1H – BUYThe pair Ethereum/Tether (ETH/USDT) breaks through the descending trendline up.
A bullish movement upwards to the next resistance at 1667.96 is certain.
Caution: A possible counter-trend in the direction of the support level at 1606.01 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bullish Engulfing’ candle pattern is existing. The candles show ‘Bullish Engulfing’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1721.93 |
| 2nd High | 1714.5 |
| Next High | 1667.96 |
| Current Price | 1653.950000000 |
| Next Low | 1606.01 |
| 2nd Low | 1590.8 |
| 3rd Low | 1546.06 |
1667.96 – 1714.5 – 1721.93 – 1606.01 – 1614.02 – 1654.63 —
1636.880000000 – 1647.880000000 —
45.027506094585 – 53.282400965901 —
– —
1667.96 – 1781096400
Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Bullish Engulfing – – –