Now let's move on to the chart of ETH against USDT, also on a four-hour time frame. And here we can start by identifying with the yellow lines the triangle in which the price is moving.
Going further, we see that we have the first support at $1602, the second support at $1579, the third at $1560, the fourth at $1540 and the fifth at $1514.
Looking the other way, we can also identify places where the price may encounter resistance. And here we have the first resistance at $1613, the second resistance at $1628, the third at $1648 and the fourth at $1675.
As we can see, EMA Cros indicated entering a local downtrend, but now it should be observed whether EMA Cross red 10 will cross the green line from below, which may be a confirmation of entering a local uptrend.
The CHOP index indicates that we have more and more energy for the next move, the MACD indicates entering a local uptrend, while the RSI has changed the direction of the trend to an upward one.
Going further, we see that we have the first support at $1602, the second support at $1579, the third at $1560, the fourth at $1540 and the fifth at $1514.
Looking the other way, we can also identify places where the price may encounter resistance. And here we have the first resistance at $1613, the second resistance at $1628, the third at $1648 and the fourth at $1675.
As we can see, EMA Cros indicated entering a local downtrend, but now it should be observed whether EMA Cross red 10 will cross the green line from below, which may be a confirmation of entering a local uptrend.
The CHOP index indicates that we have more and more energy for the next move, the MACD indicates entering a local uptrend, while the RSI has changed the direction of the trend to an upward one.