Daily ETH 4HChart - resistance and support
Hello everyone, I invite you to review the chart of ETH in pair to USDT, on a four-hour interval. With the help of yellow lines we will mark the local triangle in which the price is moving in the lower limit.
Now let's move on to marking the places of support. We will use the trend based fib extension tool to mark the supports, and as you can see, we have the first support at the price of $ 1841, the second strong support at 0.618Fib, at the price of $ 1800, the third at the price of $ 1739.
Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here, in the first place, it is worth marking a strong resistance zone from $ 1891 to $ 1924, when the price breaks it, the next resistance is at $ 1952, then the third resistance at $ 1981, and the fourth resistance at $ 2020.
When we turn on the EMA Cross 10 and 30, we can see that they indicate a strong transition into a local downtrend. The CHOP index indicates that the energy on the short time interval is highly charged. The MACD indicator remains in a local downtrend. On the other hand, on the RSI we see a rebound in the lower part of the range, this may indicate the approaching end of the rebound, but at this point we see that there is still some room for the price to go lower.
Now let's move on to marking the places of support. We will use the trend based fib extension tool to mark the supports, and as you can see, we have the first support at the price of $ 1841, the second strong support at 0.618Fib, at the price of $ 1800, the third at the price of $ 1739.
Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here, in the first place, it is worth marking a strong resistance zone from $ 1891 to $ 1924, when the price breaks it, the next resistance is at $ 1952, then the third resistance at $ 1981, and the fourth resistance at $ 2020.
When we turn on the EMA Cross 10 and 30, we can see that they indicate a strong transition into a local downtrend. The CHOP index indicates that the energy on the short time interval is highly charged. The MACD indicator remains in a local downtrend. On the other hand, on the RSI we see a rebound in the lower part of the range, this may indicate the approaching end of the rebound, but at this point we see that there is still some room for the price to go lower.