ETH - USDT, 1D Interval Resistance and Support
Hello everyone, let's look at the ETH to USDT 1 day chart. As you can see, the price is moving in the downtrend channel, which is important in its lower part.
Let's start with setting support and as you can see ETH has a strong support zone from $1129 to $883 ahead, moreover looking at the recent move we can mark the $974 level as a strong place where the price may turn around.
Now let's move to the resistance line, as you can see the first resistance is $1301, if you manage to break it, the next resistance will be $1444, $1555 and $1669.
Looking at the CHOP indicator, we see that in the 1-day interval, the energy is strongly charged, the MACD indicator indicates the continuation of the downward trend, and the volume shows little interest on the part of sellers and buyers.
Let's start with setting support and as you can see ETH has a strong support zone from $1129 to $883 ahead, moreover looking at the recent move we can mark the $974 level as a strong place where the price may turn around.
Now let's move to the resistance line, as you can see the first resistance is $1301, if you manage to break it, the next resistance will be $1444, $1555 and $1669.
Looking at the CHOP indicator, we see that in the 1-day interval, the energy is strongly charged, the MACD indicator indicates the continuation of the downward trend, and the volume shows little interest on the part of sellers and buyers.