ETH/USDT 4HInterval Chart
I invite you to review the ETH chart on a four-hour interval. Now, with the blue lines, we will mark the downward trend channel, where we can see the price approaching the upper limit.
Moving on, we will move on to determining resistances and after using the Fib Retracement tool, we can see a significant resistance level at the price of $2,379. Only when it is overcome, the price will be able to go further up, towards the resistance at $2,508.
Looking the other way, we will see the trend based fib extension tool, looking at the recent downward movement, we can see support at $2189, which managed to maintain the price. However, if we go below this level, it is worth considering the support zone from $2,110 to $2,052.
The RSI indicator shows that there is room for the price to go up, and the STOCH indicator shows an upward impulse, but it also shows that the price can go a little higher.
Moving on, we will move on to determining resistances and after using the Fib Retracement tool, we can see a significant resistance level at the price of $2,379. Only when it is overcome, the price will be able to go further up, towards the resistance at $2,508.
Looking the other way, we will see the trend based fib extension tool, looking at the recent downward movement, we can see support at $2189, which managed to maintain the price. However, if we go below this level, it is worth considering the support zone from $2,110 to $2,052.
The RSI indicator shows that there is room for the price to go up, and the STOCH indicator shows an upward impulse, but it also shows that the price can go a little higher.
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