Daily ETH 4HChart - resistance and support
Hello everyone, let's look at the ETH to USDT chart on the 4-hour timeframe. As you can see, the price is moving below the local downtrend line.
Let's start with the support line and as you can see the first support in the near future is $1730, if the support is broken then the next support is $1703, $1681 and $1660.
Now let's move on to the resistance line, as you can see the first resistance is $1762, if you break it, the next resistance will be $1776, the third $1790 and $1811.
Looking at the CHOP indicator, we see that the energy has been used, the MACD is close to trending upwards, while the RSI is moving at the lower end of the range, which may give the price an upward rebound in the coming hours.
Let's start with the support line and as you can see the first support in the near future is $1730, if the support is broken then the next support is $1703, $1681 and $1660.
Now let's move on to the resistance line, as you can see the first resistance is $1762, if you break it, the next resistance will be $1776, the third $1790 and $1811.
Looking at the CHOP indicator, we see that the energy has been used, the MACD is close to trending upwards, while the RSI is moving at the lower end of the range, which may give the price an upward rebound in the coming hours.