ETH - USDT, 1D Interval Resistance and Support
Hello everyone, I invite you to review the ETH to USDT chart on a one-day interval. First, we will mark the downtrend channel that the price has left the top. However, locally, we can determine the downtrend under which the price is moving.
Now we can move on to marking support and in this situation we have first support at $1539, second support at $1449, third support at $1380, if the price goes lower we have a strong support zone from $1309 to $1204.
Looking the other way, we can similarly mark the places of resistance that the ETH price has to face, as we see the first resistance at $ 1669 at the so-called golden point fib 0.618, then we have strong resistance at $ 1825 and the third resistance at $ 2032.
It is worth looking at the EMA Cross 10 and 30, because we can see that the 10 marked with the red line on the chart starts to bend, when it crosses the 30 marked with the green line on the chart, it can give confirmation of entering a longer downtrend.
The CHOP index indicates that we have a lot of energy for a new move, MACD indicates entering a downtrend, while the RSI is moving in a downtrend.
Now we can move on to marking support and in this situation we have first support at $1539, second support at $1449, third support at $1380, if the price goes lower we have a strong support zone from $1309 to $1204.
Looking the other way, we can similarly mark the places of resistance that the ETH price has to face, as we see the first resistance at $ 1669 at the so-called golden point fib 0.618, then we have strong resistance at $ 1825 and the third resistance at $ 2032.
It is worth looking at the EMA Cross 10 and 30, because we can see that the 10 marked with the red line on the chart starts to bend, when it crosses the 30 marked with the green line on the chart, it can give confirmation of entering a longer downtrend.
The CHOP index indicates that we have a lot of energy for a new move, MACD indicates entering a downtrend, while the RSI is moving in a downtrend.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.