ETH/USDT 1D Review Chart 18.08
I invite you to review the chart of ETH in pair to USDT, also on a one-day interval. First of all, using the yellow line, we can mark the uptrend line, from which the price went down.
Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark the supports, and as you can see, first we have the support zone from $ 1610 to $ 1479, which at the moment held the price, the second very strong support at the price of $ 1298, and then we can see a drop to around the support level $1061.
Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here as the first resistance we will mark the zone from $1743 to $1819, then we have the second zone from $1899 to $2009, and then a very strong resistance at $2146.
The CHOP index indicates that the energy has been used. On the RSI we crossed the lower limit which also indicates the use of energy, while the STOCH indicator rebounded and the energy was used to rebound the price after the decline.
Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark the supports, and as you can see, first we have the support zone from $ 1610 to $ 1479, which at the moment held the price, the second very strong support at the price of $ 1298, and then we can see a drop to around the support level $1061.
Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here as the first resistance we will mark the zone from $1743 to $1819, then we have the second zone from $1899 to $2009, and then a very strong resistance at $2146.
The CHOP index indicates that the energy has been used. On the RSI we crossed the lower limit which also indicates the use of energy, while the STOCH indicator rebounded and the energy was used to rebound the price after the decline.