The currency pair Ethereum/Tether (ETH/USDT) moves from the descending trendline downwards
A continuation of the downtrend downwards to the next support level at 1803.05 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 1856.17 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. which could be a negative signal. The currency pair could go down.
There is also a ‘Bearish Engulfing’ candle pattern is detected. The candles form ‘Bearish Engulfing’. 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 ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1894.38 |
| 2nd High | 1881.59 |
| Next High | 1856.17 |
| Current Price | 1840.840000000 |
| Next Low | 1803.05 |
| 2nd Low | 1750.2 |
| 3rd Low | 1737.68 |
1856.17 – 1843.26 – 1881.59 – 1803.05 – 1820.74 – 1862.57 —
1843.760000000 – 1844.470000000 —
51.049963230542 – 51.854453675186 —
– —
1856.17 – 1784307600
Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Bearish Engulfing – – –