Hello everyone, let's take a look at the ETH to USDT chart over the 4 hour timeframe. As you can see, the price is moving in the downtrend channel.
Let's start with the designation of the support line and as you can see the price has remained in the fundamental support zone which is between $ 1,856 and $ 1,694. in the current situation we have support at $ 1883 and then there is a support zone.
Now let's move from the resistance line as the first resistance is $ 1,936, if you can break it the next resistance will be $ 1,990 and $ 2,069.
Looking at the CHOP indicator, we can see that in the 4-hour interval, the collected energy was nicely used to increase the price, and the MACD indicator shows that we are in an uptrend locally.
Let's start with the designation of the support line and as you can see the price has remained in the fundamental support zone which is between $ 1,856 and $ 1,694. in the current situation we have support at $ 1883 and then there is a support zone.
Now let's move from the resistance line as the first resistance is $ 1,936, if you can break it the next resistance will be $ 1,990 and $ 2,069.
Looking at the CHOP indicator, we can see that in the 4-hour interval, the collected energy was nicely used to increase the price, and the MACD indicator shows that we are in an uptrend locally.