ETH/USDT 4H Interval Review
Hello everyone, let's look at the ETH to USDT chart on the 4-hour timeframe. As you can see, the price is staying below the local downtrend line.
When we unfold the Fib Retracement grid, we see that the price is in a strong support zone at $1902 to $1868, however as we move lower the next support is at $1823.
Looking the other way, we will similarly mark the resistance points for the price and here the first resistance is at $1932, then we have a strong resistance zone from $1970 to $1997, then resistance at $2030
The CHOP index indicates that there is still some energy left for the continuation of the move, MACD indicates a return to the local downtrend, and the RSI is moving in the lower limit, but with room for the price to go a little lower.
When we unfold the Fib Retracement grid, we see that the price is in a strong support zone at $1902 to $1868, however as we move lower the next support is at $1823.
Looking the other way, we will similarly mark the resistance points for the price and here the first resistance is at $1932, then we have a strong resistance zone from $1970 to $1997, then resistance at $2030
The CHOP index indicates that there is still some energy left for the continuation of the move, MACD indicates a return to the local downtrend, and the RSI is moving in the lower limit, but with room for the price to go a little lower.