Daily ETH 4HChart - resistance and support
Hello everyone, let's look at the ETH to USDT chart on the 4-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 $1619, if the support is broken then the next support is $1604, $1590 and $1569.
Now let's go to the resistance line, as you can see the first resistance is $1649, if you manage to break it, the next resistance will be $1662, $1674 and $1693.
Looking at the CHOP indicator, we see that we have a lot of energy for the next moves, MACD indicates the maintenance of the local uptrend, while the RSI is moving in the middle of the range, which makes it difficult to clearly determine the direction.
Let's start with the support line and as you can see the first support in the near future is $1619, if the support is broken then the next support is $1604, $1590 and $1569.
Now let's go to the resistance line, as you can see the first resistance is $1649, if you manage to break it, the next resistance will be $1662, $1674 and $1693.
Looking at the CHOP indicator, we see that we have a lot of energy for the next moves, MACD indicates the maintenance of the local uptrend, while the RSI is moving in the middle of the range, which makes it difficult to clearly determine the direction.