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 below the local downtrend line.
Let's start with the support line and as you can see the first support in the near future is $1470, if the support is broken then the next support is $1444, $1419 and $1385.
Now let's go to the resistance line, as you can see the first resistance is $1508, if you manage to break it, the next resistance will be $1534, $1555 and $1577.
Looking at the CHOP indicator, we see that there is still some energy left, the MACD indicates the limits of entering the local downtrend, while the RSI has returned to the lower limit of the range.
Let's start with the support line and as you can see the first support in the near future is $1470, if the support is broken then the next support is $1444, $1419 and $1385.
Now let's go to the resistance line, as you can see the first resistance is $1508, if you manage to break it, the next resistance will be $1534, $1555 and $1577.
Looking at the CHOP indicator, we see that there is still some energy left, the MACD indicates the limits of entering the local downtrend, while the RSI has returned to the lower limit of the range.