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 in the local downtrend channel.
Let's start with the support line and as you can see the first support in the near future is $1495, if the support is broken then the next support is $1462, $1436 and $1410.
Now let's move to the resistance line, as you can see the first resistance is $1590, if you manage to break it, the next resistance will be $1631, $1665 and $1698.
Looking at the CHOP indicator, we see that we have a lot of energy to move, the MACD indicates a local downtrend, while the RSI is moving at the lower limit, which may affect the trend change.
Let's start with the support line and as you can see the first support in the near future is $1495, if the support is broken then the next support is $1462, $1436 and $1410.
Now let's move to the resistance line, as you can see the first resistance is $1590, if you manage to break it, the next resistance will be $1631, $1665 and $1698.
Looking at the CHOP indicator, we see that we have a lot of energy to move, the MACD indicates a local downtrend, while the RSI is moving at the lower limit, which may affect the trend change.