AVAX/USDT – 1H – SELLAdditionally a ‘Rising Wedge Chart Pattern’ chart pattern is found. The formation shows ‘Rising Wedge Chart Pattern’. which is a negative pattern signal. The currency pair is likely to go down.
The combination Avalanche/Tether (AVAX/USDT) jumps from the bullish trendline down.
A bearish trend downwards to the next support line at 6.613 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 6.88 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Bearish Engulfing’ candlestick chart pattern is detected. The candles show ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 7.022 |
| 2nd High | 7.018 |
| Next High | 6.88 |
| Current Price | 6.872000000 |
| Next Low | 6.613 |
| 2nd Low | 6.561 |
| 3rd Low | 6.427 |
6.88 – 6.814 – 6.727 – 6.613 – 6.561 – 6.427 —
6.880000000 – 6.908000000 —
63.107288841673 – 63.927451137125 —
– —
6.88 – 1782997200
Trading Signals: CRYPTO – AVAX – AVAX/USDT – USDT – Bearish Engulfing – Rising Wedge Chart Pattern – –