The collected energy was used to lower the price of ETH.
Hello everyone, let's take a look at the 4 hour ETH to USDT chart.
Let's start by marking the downtrend line, because you can see that the price has gone above this line but unfortunately has turned back and is now below the trendline.
Now let's move to the support line, as you can see, the first support is around $ 2,759, above which the price is currently hitting, the next support is $ 2,671 and $ 2,582.
We are between the support and the first resistance at $ 2910, the next resistance at $ 3071 and the next at $ 3282.
It is worth paying attention to the CHOP indicator, which shows that the collected energy in the 4-hour interval was used for the price correction.
Let's start by marking the downtrend line, because you can see that the price has gone above this line but unfortunately has turned back and is now below the trendline.
Now let's move to the support line, as you can see, the first support is around $ 2,759, above which the price is currently hitting, the next support is $ 2,671 and $ 2,582.
We are between the support and the first resistance at $ 2910, the next resistance at $ 3071 and the next at $ 3282.
It is worth paying attention to the CHOP indicator, which shows that the collected energy in the 4-hour interval was used for the price correction.