Daily ETH 4HChart - resistance and support
Hello everyone, I invite you to review the chart of ETH in pair to USDT, also on a four-hour interval. First, we will use the purple lines to mark the local uptrend channel.
Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark support, and as you can see, we have the first support at $ 1912, then it is worth marking a strong support zone from $ 1850 to $ 1771, which has already held the price once, but when the price drops below this zone, we can see a strong drop in around $1536..
Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here we see that the price is in front of the first strong resistance at $1984, then we have a strong resistance zone from MBRIGHT to 2189 , only after breaking it will we move towards the resistance at
2280
and then to the level of $2409.
The CHOP index indicates that the energy has been used. The MACD indicator confirms the current uptrend. On the other hand, on the RSI we see a strong increase that reaches the upper limit, which may affect the stop of the current movement.
Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark support, and as you can see, we have the first support at $ 1912, then it is worth marking a strong support zone from $ 1850 to $ 1771, which has already held the price once, but when the price drops below this zone, we can see a strong drop in around $1536..
Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here we see that the price is in front of the first strong resistance at $1984, then we have a strong resistance zone from MBRIGHT to 2189 , only after breaking it will we move towards the resistance at
2280
and then to the level of $2409. The CHOP index indicates that the energy has been used. The MACD indicator confirms the current uptrend. On the other hand, on the RSI we see a strong increase that reaches the upper limit, which may affect the stop of the current movement.