ICP/USDT – 30M – SELL

The combination Internet Computer/Tether (ICP/USDT) jumps from the ascending trendline down.

A bearish descent down to the next support at 2.255 is expected.

Caution: A possible trend reversal in the direction of the resistance line at 2.473 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Besides a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. which is often a bearish chart scenario. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 1-Level.Continuation of the current descending trend is expected. Current target is 2.4195 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support level at 2.473 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Besides a ‘Last Engulfing Top’ candle pattern is found. The chart shows ‘Last Engulfing Top’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).

2.473 – 2.316 – 2.305 – 2.255 – 2.238 – 2.223 —
2.417000000 – 2.457000000 —
63.592607376818 – 65.454196334104 —
– —
2.473 – 1781326800

Trading Signals: CRYPTO – ICP – ICP/USDT – USDT – Last Engulfing Top – – –