I invite you to review the chart of ETH in pair with USDT, also on a one-day time frame. We will start by identifying the first downward trend line, from which the price moved strongly upwards, and currently we can see that we are moving along the upward trend line.
After turning on the EMA Cross 10 and 30 indicator, you can see the red line breaking through the green EMA Cross 30 line from below, which indicates a re-entry into the upward trend.
Looking at the current rebound and price increase, we will unfold the trend based fib extension tool, we can see a strong resistance at the level of $2,630, and when we manage to break it and test it positively, we can get an upward impulse to the strong resistance zone from $3,113 to $3,371.
Looking the other way, we will again decompose the saitke trend based fib extension, we can see the support zone from $2,236 to $2,104, while further we may get a strong downward impulse towards the support level of $1,725.
When we look at the RSI indicator, we can see that we are again approaching the resistance line, above which there is room for greater growth, but on the STOCH indicator, we have a movement above the upper limit, which may affect the current slowdown in growth.
After turning on the EMA Cross 10 and 30 indicator, you can see the red line breaking through the green EMA Cross 30 line from below, which indicates a re-entry into the upward trend.
Looking at the current rebound and price increase, we will unfold the trend based fib extension tool, we can see a strong resistance at the level of $2,630, and when we manage to break it and test it positively, we can get an upward impulse to the strong resistance zone from $3,113 to $3,371.
Looking the other way, we will again decompose the saitke trend based fib extension, we can see the support zone from $2,236 to $2,104, while further we may get a strong downward impulse towards the support level of $1,725.
When we look at the RSI indicator, we can see that we are again approaching the resistance line, above which there is room for greater growth, but on the STOCH indicator, we have a movement above the upper limit, which may affect the current slowdown in growth.