GMT takes a breath after large price increase
Hello everyone, let's look at the GMT chart to USDT on the 4h interval. As you can see, the price moves above the local growth trend line designated with a blue line.
Let's start with the designation of the support line and as you can see the first support in the near future is $ 3.41, if the support will be broken, the next it is $ 3.14 at 2,93 $ and 2,71 $.
Now let's move from the resistance line, as you can see, the first resistance is 3.83 $ = 1.618Fib Retracement from which the price has just bounced if you manage to break it, the next resistance can be determined in the area of 4.96 $.
Looking at the Chop indicator, we see that in the 4-hour interval, most energy has been exhausted. It is possible that we will have to wait for the next move until energy is collected.
Let's start with the designation of the support line and as you can see the first support in the near future is $ 3.41, if the support will be broken, the next it is $ 3.14 at 2,93 $ and 2,71 $.
Now let's move from the resistance line, as you can see, the first resistance is 3.83 $ = 1.618Fib Retracement from which the price has just bounced if you manage to break it, the next resistance can be determined in the area of 4.96 $.
Looking at the Chop indicator, we see that in the 4-hour interval, most energy has been exhausted. It is possible that we will have to wait for the next move until energy is collected.