Daily review of ETH interval 1D
I invite you to a short overview of ETH in pair to USDT on a one-day interval. Let's start by marking, using the yellow lines, the triangle in which the price is currently moving. What's more, we can see that we are approaching the point where the price will have to choose the direction in which it will go down.
Now let's go to check what resistances the ETH price has on its way up and for this we will use the Fib Retracement tool, as you can see the first resistance from which the price has already turned back is $ 1298, but if we overcome it, we have the next resistance at $ 1437, the next one is 1558 $ and $1666.
Looking the other way, we will also check what supports we should take into account and here we immediately have two strong supports on the way, the first at $ 1129 and the second at $ 882. In this situation, however, it is worth using the Trend-Based Fib Extension tool with which we will check the support taking into account only the last move. And here we see that we have support at $ 1169 and $ 1081 where the price has already changed its direction, and then we have at $ 1011 and $ 940, it is worth taking them into account because the price often does not touch strong supports and starts turning around just before or behind these supports.
Please pay attention to the CHOP index where we see that, similarly to the situation on BTC, most of the energy has been used, the MACD indicator indicates that we are moving in an uptrend, while the volume is very small and does not indicate any sudden movement.
Now let's go to check what resistances the ETH price has on its way up and for this we will use the Fib Retracement tool, as you can see the first resistance from which the price has already turned back is $ 1298, but if we overcome it, we have the next resistance at $ 1437, the next one is 1558 $ and $1666.
Looking the other way, we will also check what supports we should take into account and here we immediately have two strong supports on the way, the first at $ 1129 and the second at $ 882. In this situation, however, it is worth using the Trend-Based Fib Extension tool with which we will check the support taking into account only the last move. And here we see that we have support at $ 1169 and $ 1081 where the price has already changed its direction, and then we have at $ 1011 and $ 940, it is worth taking them into account because the price often does not touch strong supports and starts turning around just before or behind these supports.
Please pay attention to the CHOP index where we see that, similarly to the situation on BTC, most of the energy has been used, the MACD indicator indicates that we are moving in an uptrend, while the volume is very small and does not indicate any sudden movement.
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