ADA/USDT – 1H – SELL
The currency pair moves from the bullish trendline down.
A bearish descent downwards to the next support level at 0.543100000 is certain.
Caution: A possible counter-trend in the direction of the resistance zone at 0.659900000 should always be considered.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Current target is 0.4943 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 0.659900000 should always be considered.
Consider stop-loss settings accordingly.
Moreover a ‘Three White Soldiers’ candle chart pattern is detected. The candles form ‘Three White Soldiers’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ going up is 82%.
Support & Resistance | Price Range* |
---|---|
3rd High | |
2nd High | |
Next High | 0.659900000 |
Current Price | 0.572100000 |
Next Low | 0.543100000 |
2nd Low | 0.427200000 |
3rd Low | 0.351400000 |