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 above the local uptrend line.
Let's start with the support line and as you can see the first support at which the price is currently located is $1612, if the support is broken then the next support is $1594, $1571, $1503.
Now let's go from the resistance line, as you can see the first resistance is $1645, if you manage to break it, the next resistance will be $1672, $1692, $1713.
Looking at the CHOP indicator, we see that the energy is slowly gaining strength in the 4-hour interval, the MACD indicates entering a local downtrend, while the RSI has a nice rebound, which may give room for new increases.
Let's start with the support line and as you can see the first support at which the price is currently located is $1612, if the support is broken then the next support is $1594, $1571, $1503.
Now let's go from the resistance line, as you can see the first resistance is $1645, if you manage to break it, the next resistance will be $1672, $1692, $1713.
Looking at the CHOP indicator, we see that the energy is slowly gaining strength in the 4-hour interval, the MACD indicates entering a local downtrend, while the RSI has a nice rebound, which may give room for new increases.