ETH/USDT 1H Short-Term Chart
Hello everyone, let's take a look at the ETH to USDT chart on a one hour time frame. As you can see, the price came out of the local upward trend line.
When we unfold the trend based fib extension grid, we see a support zone from $1,854 to $1,837, which stopped the decline, then we have support at $1,815, and then support at $1,753.
Looking the other way, there is strong resistance at $1,904, and then the price must break the resistance zone from $1,937 to $1,961.
Looking at the CHOP indicator, we see that there is still energy to continue the move, on the RSI indicator, despite the rebound, there is still room for the price to fall lower in the coming hours, and on the STOCH indicator, we are moving at the lower limit, which resulted in the current price rebound.
When we unfold the trend based fib extension grid, we see a support zone from $1,854 to $1,837, which stopped the decline, then we have support at $1,815, and then support at $1,753.
Looking the other way, there is strong resistance at $1,904, and then the price must break the resistance zone from $1,937 to $1,961.
Looking at the CHOP indicator, we see that there is still energy to continue the move, on the RSI indicator, despite the rebound, there is still room for the price to fall lower in the coming hours, and on the STOCH indicator, we are moving at the lower limit, which resulted in the current price rebound.