Ethereum / TetherUS

Daily review of ETH interval 1H

1229
Hello everyone, let's look at the ETH to USDT chart on a 1-hour time frame. As you can see, the price is moving in the marked channel.

Let's start with the support line and as you can see the first support in the near future is $1209, if the support is broken then the next support is $1202 and $1193.

Now let's go to the resistance line, as you can see the first resistance is $1216, if you manage to break it, the next resistance will be $1220, $1223 and $1227.

Looking at the CHOP indicator, we see that in the 1-hour interval, the energy slowly starts to rise, the MACD indicates a local downtrend, while the RSI is close to the low, we can see a small correction and price rebound.

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