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 above the local downtrend line.
Let's start with the support line and as you can see the first support in the near future is
1877
, if the support is broken then the next support is
1859
,
1845
and $1830.
Now let's move on to the resistance line, as you can see the first resistance is 1912 , if you break it the next resistance will be 1934 and $1964.
Looking at the CHOP indicator, we see that the energy has been used, the MACD confirms the local uptrend, while the RSI has crossed the upper limit of the range, which may lead to a rebound in the price after the recent increase.
Let's start with the support line and as you can see the first support in the near future is
1877
, if the support is broken then the next support is
1859
,
1845
and $1830. Now let's move on to the resistance line, as you can see the first resistance is 1912 , if you break it the next resistance will be 1934 and $1964.
Looking at the CHOP indicator, we see that the energy has been used, the MACD confirms the local uptrend, while the RSI has crossed the upper limit of the range, which may lead to a rebound in the price after the recent increase.