Hello everyone, check out the ETH to USDT chart on four hour intervale.
Let's start by marking the trends with white lines and, as we can see, the price has beaten the first tendency, but on its way to larger increases it has to overcome the second tendency.
Please note that we have dropped below our uptrend line,
nevertheless, the price remains above the first trend and locally above the uptrend line.
Let's check what support we can designate for the ETH price for the near future and in this situation we have the first support at $ 1541, if the support is broken, the next support is $ 1453, $ 1381 and $ 1313.
Now let's move to the resistance line as you can see the first resistance is $ 1661, if you can break it the next resistance will be $ 1736, $ 1797 and $ 1850.
Looking at the CHOP indicator, we can see that in the 4-hour interval the energy has been used and is now slowly starting to rebound, while the MACD indicator shows a local downward trend.
Let's start by marking the trends with white lines and, as we can see, the price has beaten the first tendency, but on its way to larger increases it has to overcome the second tendency.
Please note that we have dropped below our uptrend line,
nevertheless, the price remains above the first trend and locally above the uptrend line.
Let's check what support we can designate for the ETH price for the near future and in this situation we have the first support at $ 1541, if the support is broken, the next support is $ 1453, $ 1381 and $ 1313.
Now let's move to the resistance line as you can see the first resistance is $ 1661, if you can break it the next resistance will be $ 1736, $ 1797 and $ 1850.
Looking at the CHOP indicator, we can see that in the 4-hour interval the energy has been used and is now slowly starting to rebound, while the MACD indicator shows a local downward trend.