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 quickly rebounded and returned above the downtrend line.
Let's start with the support line and as you can see the first support in the near future is $1616, if the support is broken then the next support is $1569, $1531 and $1493.
Now let's move on to the resistance line, as you can see the first resistance is $1662, if you manage to break it, the next resistance will be $1743 and only when we break it can the price move on.
Looking at the CHOP indicator, we see that the energy has been used for the current large increase, the MACD indicates an uptrend, while the RSI has reached the upper limit, which may slow down the price increase for a while.
Let's start with the support line and as you can see the first support in the near future is $1616, if the support is broken then the next support is $1569, $1531 and $1493.
Now let's move on to the resistance line, as you can see the first resistance is $1662, if you manage to break it, the next resistance will be $1743 and only when we break it can the price move on.
Looking at the CHOP indicator, we see that the energy has been used for the current large increase, the MACD indicates an uptrend, while the RSI has reached the upper limit, which may slow down the price increase for a while.