Hello everyone, let's look at the 1H ETH to USDT chart as we can see that the price is moving below the local uptrend line.
Let's start by setting goals for the near future that we can include:
T1 = $3,454
T2 = $3,603
T3 = $3,710
AND
T4 = $3,845
Now let's move on to the stop loss in case of further market declines:
SL1 = $3,189
SL2 = $3061
AND
SL3 = $2,884
Looking at the RSI indicator, you can see how we remain low below the downward trend line, while the Stoch indicator approached its trend line, which may trigger a rebound again, it is worth watching whether the downward trend will be broken.
Let's start by setting goals for the near future that we can include:
T1 = $3,454
T2 = $3,603
T3 = $3,710
AND
T4 = $3,845
Now let's move on to the stop loss in case of further market declines:
SL1 = $3,189
SL2 = $3061
AND
SL3 = $2,884
Looking at the RSI indicator, you can see how we remain low below the downward trend line, while the Stoch indicator approached its trend line, which may trigger a rebound again, it is worth watching whether the downward trend will be broken.