Daily review of ETH interval 1D
The second in today's review will be the ETH to USDT chart on a one-day timeframe. As you can see, the price has broken the downtrend line and now we can mark the local uptrend line with the blue line.
Let's start with setting the support line and as you can see the first support is at $1483, the second at $1405, the third at $1342, and then we can mark the support zone from $1278 to $1189.
Now let's move on to the resistance line, as you can see the first resistance is $1551 which the price is currently fighting to hold, then we have resistance at $1664, third resistance at $1827 and fourth very strong resistance at $2032.
Looking at the CHOP indicator, we can see that after the recent increases, the energy is slowly gathering strength for a new move, the MACD indicates an ongoing uptrend, and the RSI could see a rebound, but we are still above the upper range, which may indicate a sideways move with small corrections.
Let's start with setting the support line and as you can see the first support is at $1483, the second at $1405, the third at $1342, and then we can mark the support zone from $1278 to $1189.
Now let's move on to the resistance line, as you can see the first resistance is $1551 which the price is currently fighting to hold, then we have resistance at $1664, third resistance at $1827 and fourth very strong resistance at $2032.
Looking at the CHOP indicator, we can see that after the recent increases, the energy is slowly gathering strength for a new move, the MACD indicates an ongoing uptrend, and the RSI could see a rebound, but we are still above the upper range, which may indicate a sideways move with small corrections.
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