ETH - USDT, 1D Interval Resistance and Support
Hello everyone, I invite you to review the ETH/USDT chart on a 1-day interval, which can be noticed right away is a layout on the chart very similar to that of BTC. This is how we can mark the triangle in which the price is moving with the yellow lines.
Using the fib retracement tool, we can set support and here we see that we first have a strong support zone from $1180 to $1133, then we have support at $1075.
On the other hand, we can see that we have strong resistance in the zone from $ 1378 to $ 1450, only when we manage to break this zone we can go towards $ 1553.
It is also worth marking the local downtrend line that the price must overcome upwards in order to move towards the designated resistance zone.
As you can see on the CHOP index on the 1-day interval, the energy is exhausted, while the MACD confirms that we are moving in a downtrend.
Using the fib retracement tool, we can set support and here we see that we first have a strong support zone from $1180 to $1133, then we have support at $1075.
On the other hand, we can see that we have strong resistance in the zone from $ 1378 to $ 1450, only when we manage to break this zone we can go towards $ 1553.
It is also worth marking the local downtrend line that the price must overcome upwards in order to move towards the designated resistance zone.
As you can see on the CHOP index on the 1-day interval, the energy is exhausted, while the MACD confirms that we are moving in a downtrend.