Hello everyone, let's look at the ETH to USDT chart on a 4-hour time frame. As you can see, the price is moving in a triangle and is getting closer to leaving it.
Let's start with the support line and as you can see the first support in the near future is $1562, if the support is broken then the next support is $1542, $1515 and $1480.
Now let's move to the resistance line, as you can see the first resistance is $1583, if you manage to break it, the next resistance will be $1600, $1615 and $1630.
Looking at the CHOP indicator, we see that there is some energy left for further movement, the MACD indicates entering a local downtrend, while the RSI shows a rebound and a downtrend.
Let's start with the support line and as you can see the first support in the near future is $1562, if the support is broken then the next support is $1542, $1515 and $1480.
Now let's move to the resistance line, as you can see the first resistance is $1583, if you manage to break it, the next resistance will be $1600, $1615 and $1630.
Looking at the CHOP indicator, we see that there is some energy left for further movement, the MACD indicates entering a local downtrend, while the RSI shows a rebound and a downtrend.