Hello everyone, let's take a look at the ETH to USDT chart on a one hour time frame. The price still remains below the local downtrend line.
After unfolding the Fib Retracement grid, there is support at $2,470, followed by strong support around $2,380.
Looking the other way, you can see how the price turned back before the resistance at $2,499, while we still have a strong resistance zone from $2,573 to $2,614.
There is room for growth on the RSI, but the STOCH indicator has exceeded the upper limit and we have a visible rebound, with room for a larger price decline.
After unfolding the Fib Retracement grid, there is support at $2,470, followed by strong support around $2,380.
Looking the other way, you can see how the price turned back before the resistance at $2,499, while we still have a strong resistance zone from $2,573 to $2,614.
There is room for growth on the RSI, but the STOCH indicator has exceeded the upper limit and we have a visible rebound, with room for a larger price decline.