ETH - USDT, 1D Interval Resistance and Support
I invite you to discuss the behavior on the ETH versus USDT chart. We can see that the price from June to September moved above the uptrend line, which we left the bottom on September 18, moving in the downtrend channel marked by blue lines.
Despite this, the price of XRP came up from this channel, after negative news about the FTX exchange, it dived quickly and returned to the downward channel.
In recent days, the price has moved above the local uptrend line, but now it has to overcome the downward trend in order to return above it.
Now, with the help of the Fibonache tool, we will mark the support zones for the XRP price, and as you can see, we have a support zone from one thousand three hundred twenty six dollars to one thousand one hundred thirty five dollars where the price is currently located, then we have support lines at a price of eight hundred eighty five dollars.
We can also check that a strong resistance zone, when the price starts to rise, we have from one thousand six hundred and seventy-four dollars to one thousand eight hundred and thirty-five dollars, but before that we have to overcome two places of resistance at one thousand five hundred and fifty-four dollars and before that, one thousand four hundred and forty-two dollars.
The CHOP index indicates that the energy is depleted on the one-day interval, the makdi indicator shows a downward trend, and on the volume we see a small red candle that says that sellers have an advantage on November 11th.
Despite this, the price of XRP came up from this channel, after negative news about the FTX exchange, it dived quickly and returned to the downward channel.
In recent days, the price has moved above the local uptrend line, but now it has to overcome the downward trend in order to return above it.
Now, with the help of the Fibonache tool, we will mark the support zones for the XRP price, and as you can see, we have a support zone from one thousand three hundred twenty six dollars to one thousand one hundred thirty five dollars where the price is currently located, then we have support lines at a price of eight hundred eighty five dollars.
We can also check that a strong resistance zone, when the price starts to rise, we have from one thousand six hundred and seventy-four dollars to one thousand eight hundred and thirty-five dollars, but before that we have to overcome two places of resistance at one thousand five hundred and fifty-four dollars and before that, one thousand four hundred and forty-two dollars.
The CHOP index indicates that the energy is depleted on the one-day interval, the makdi indicator shows a downward trend, and on the volume we see a small red candle that says that sellers have an advantage on November 11th.