ETH/USDT 1H Short-Term Review
Hello everyone, I invite you to review the chart of ETH in pair to USDT, also on the time interval of one hour. First of all, using the blue lines, we can mark the uptrend channel, from which the price went down and is currently struggling to return to the channel.
Now let's move on to marking the places of support. And as you can see we have the first support at $1841, the second support at $1812, the third support at $1788 and then we can mark the fourth very strong support at $1763.
Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here, the first resistance at which the price changes direction is at $1878, then the second resistance at $1909, the third at $1933, the fourth strong resistance at 0.618Fib equal to $1957, and then the strong resistance at $1991.
When we turn on the EMA Cross 200, we can see that the price is struggling to return above the blue line of the ema cross 200, which would confirm the return to the uptrend.
The CHOP index indicates that there is still energy for movement. On the RSI we see a local correction, but in combination with the STOCH indicator we can see a greater price rebound.
Now let's move on to marking the places of support. And as you can see we have the first support at $1841, the second support at $1812, the third support at $1788 and then we can mark the fourth very strong support at $1763.
Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here, the first resistance at which the price changes direction is at $1878, then the second resistance at $1909, the third at $1933, the fourth strong resistance at 0.618Fib equal to $1957, and then the strong resistance at $1991.
When we turn on the EMA Cross 200, we can see that the price is struggling to return above the blue line of the ema cross 200, which would confirm the return to the uptrend.
The CHOP index indicates that there is still energy for movement. On the RSI we see a local correction, but in combination with the STOCH indicator we can see a greater price rebound.
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