Daily ETH 4HChart - resistance and support
Hello everyone, let's look at the ETH to USDT chart on the 4-hour time frame. As you can see, the price is moving in the downtrend channel.
Let's start with the support line and as you can see the first support in the near future is $1806, if the support is broken then the next support is $1766, $1734 and $1701.
Now let's move on to the resistances that the price has to overcome and here is the first zone from $1842 to $1861, then the second zone from $1892 to $1915 and then the resistance at $1944.
Looking at the CHOP indicator, we see that the energy is gaining more and more strength, the MACD indicates a return to the local downtrend, and the RSI has a strong rebound, which creates room for further increases.
Let's start with the support line and as you can see the first support in the near future is $1806, if the support is broken then the next support is $1766, $1734 and $1701.
Now let's move on to the resistances that the price has to overcome and here is the first zone from $1842 to $1861, then the second zone from $1892 to $1915 and then the resistance at $1944.
Looking at the CHOP indicator, we see that the energy is gaining more and more strength, the MACD indicates a return to the local downtrend, and the RSI has a strong rebound, which creates room for further increases.
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