Daily review of ETH interval 4H
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 above the local uptrend line.
Let's start with the support line and as you can see the first support at which the price is currently located is $1205, if the support is broken then the next support is $1193 and $1183.
Now let's move on to the resistance line, as you can see the first resistance is $1227 which the price rebounded from, if it manages to break it, the next resistance will be $1251 and $1276.
We can see that the uptrend was confirmed when the moving average red crossed the green line from below.
Looking at the CHOP indicator, we can see that some of the energy has been used for a correction, the MACD indicates entering a local downtrend, while the RSI shows a nice rebound from the moment we touched the upper range.
Let's start with the support line and as you can see the first support at which the price is currently located is $1205, if the support is broken then the next support is $1193 and $1183.
Now let's move on to the resistance line, as you can see the first resistance is $1227 which the price rebounded from, if it manages to break it, the next resistance will be $1251 and $1276.
We can see that the uptrend was confirmed when the moving average red crossed the green line from below.
Looking at the CHOP indicator, we can see that some of the energy has been used for a correction, the MACD indicates entering a local downtrend, while the RSI shows a nice rebound from the moment we touched the upper range.