Daily ETH 1DChart - resistance and support
Hello everyone, I invite you to view the chart of ETH in pair to USDT, also on a one-day interval. First of all, using the yellow line, we can mark the downtrend line that the price has overcome upwards. At this point, it is also worth looking at the EMA Cross 10 and 30, which at this point indicate a return to an uptrend, but be careful if it turns out to be a false breakout.
Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark the supports, and as you can see, we have the first support at $ 1623 which the price is currently approaching, the second support at $ 1576, the third at $ 1526 and then the fourth support at $ 1457.
Looking the other way, we can also determine resistances for the price, but here you can see that the price must break the strong resistance zone from $ 1664 to $ 1743, only when the price breaks out of this zone and then tests it positively, we will be able to observe further increases.
As we can see, the first day showed a nice increase, which indicates a growing sales volume.
The CHOP index indicates that the energy has been used. The MACD indicator indicates a return to an uptrend. On the other hand, the RSI shows a rebound after the last increase, which may give a positive breath for further increases.
Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark the supports, and as you can see, we have the first support at $ 1623 which the price is currently approaching, the second support at $ 1576, the third at $ 1526 and then the fourth support at $ 1457.
Looking the other way, we can also determine resistances for the price, but here you can see that the price must break the strong resistance zone from $ 1664 to $ 1743, only when the price breaks out of this zone and then tests it positively, we will be able to observe further increases.
As we can see, the first day showed a nice increase, which indicates a growing sales volume.
The CHOP index indicates that the energy has been used. The MACD indicator indicates a return to an uptrend. On the other hand, the RSI shows a rebound after the last increase, which may give a positive breath for further increases.