Hello everyone, let's look at the ETH to USDT chart on the 4-hour time frame. As you can see, the price is moving in a triangle marked with yellow lines.
Let's start with setting the support line and as you can see the first support on which the price is currently based is $1210, if the support is broken then the next support is $1119, $1049 and $977.
Now let's go from the resistance line, as you can see the first resistance is $1260, if you manage to break it, the next resistance will be $1318, $1377 and $1460.
Looking at the CHOP indicator, we see that the energy has been used up in the 4-hour interval, while the MACD indicator indicates a local downtrend.
Let's start with setting the support line and as you can see the first support on which the price is currently based is $1210, if the support is broken then the next support is $1119, $1049 and $977.
Now let's go from the resistance line, as you can see the first resistance is $1260, if you manage to break it, the next resistance will be $1318, $1377 and $1460.
Looking at the CHOP indicator, we see that the energy has been used up in the 4-hour interval, while the MACD indicator indicates a local downtrend.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.