Hello everyone, let's take a look at the ETH to USDT chart on a four-hour time frame. As you can see, the price dynamically moved upwards from the downward trend line.
After unfolding the Fib Retracement saitka, you can see how the price approached the very strong resistance level of $3,623, but it was rejected.
Looking the other way, you can see support at $2,980, and then a second strong support at $2,669.
Looking at the RSI indicator, we can see a return to the downward trend with room for correction, similarly, the STOCH indicator shows room for a greater recovery.