Hello everyone, let's look at the ETH to USDT chart on a 1-hour time frame. As you can see, the price is moving on the border of the local uptrend line.
Let's start with the support line and as you can see the first support in the near future is $1667, if the support is broken then the next support is $1653, $1638 and $1617.
Now let's move to the resistance line, as you can see the first resistance is $1687, if you manage to break it, the next resistance will be $1711, $1730 and $1750.
Looking at the CHOP indicator, we see that the collected energy was used for a correction, the MACD indicates the maintenance of the local downtrend, while the RSI showed a rebound and an immediate rebound.