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 staying above the local uptrend line.
Let's start by drawing a support line in a situation where the correction will deepen, the first support in the near future is 1942 , if the support is broken then the next support is 1915 , 1895 and $1871.
Now let's move on to the resistance line, as you can see the first resistance is 2029 , if you manage to break it, the next resistance will be
2072
,
2107
and $2140.
Looking at the CHOP indicator, we see that the energy has been used up on the short interval, the MACD confirms the local downtrend, while the RSI shows a strong rebound to the lower end of the range, which can give some rest.
Let's start by drawing a support line in a situation where the correction will deepen, the first support in the near future is 1942 , if the support is broken then the next support is 1915 , 1895 and $1871.
Now let's move on to the resistance line, as you can see the first resistance is 2029 , if you manage to break it, the next resistance will be
2072
,
2107
and $2140. Looking at the CHOP indicator, we see that the energy has been used up on the short interval, the MACD confirms the local downtrend, while the RSI shows a strong rebound to the lower end of the range, which can give some rest.