Hello everyone, I invite you to review the chart of ETH in pair to USDT, on a four-hour interval. First of all, using the blue lines, we can mark the uptrend channel in which the price is currently moving.
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 $1562, the second support at $1468, the third at $1392, and then we can mark the strong support zone from $1319 to $1208.
Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here we have the first very strong resistance at the price of $1666 which is the so-called golden point of 0.618 Fib, the next resistance is at the price of $1827 and then the third resistance at the price of $2032.
When we turn on the EMA Cross 10 and 30, we can see that they indicate an uptrend. The CHOP index indicates that the energy has been used. The MACD indicator is on the verge of entering a local downtrend. On the other hand, we see a rebound on the RSI, but we remain in an uptrend.