Daily ETH 4HChart - resistance and support
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 below the local downtrend line.
Let's start with the support line and as you can see the first support in the near future is $1781, if the support is broken then the next support is $1739, $1706 and $1674.
Now let's move to the resistance line, as you can see the first resistance is $1820, if you manage to break it, the next resistance will be $1848, $1872 and $1909.
Looking at the CHOP indicator, we see that there is a lot of energy to move, the MACD is on the verge of returning to the downtrend, and the RSI is in the middle of the range, which makes it hard to point to one direction.
Let's start with the support line and as you can see the first support in the near future is $1781, if the support is broken then the next support is $1739, $1706 and $1674.
Now let's move to the resistance line, as you can see the first resistance is $1820, if you manage to break it, the next resistance will be $1848, $1872 and $1909.
Looking at the CHOP indicator, we see that there is a lot of energy to move, the MACD is on the verge of returning to the downtrend, and the RSI is in the middle of the range, which makes it hard to point to one direction.