From the ETH/USDT (Ethereum) chart on the 4H (4-hour) timeframe you see, here’s a brief analysis of the support and resistance levels based on the existing price structure and horizontal lines:
1. Support:
• Main support around $1,751
This is visible from the purple horizontal line and previous price reactions that rejected further downside in this area.
• Minor support around $1,578 – $1,580
This area is marked below (also seen as a previous reaction zone). If the $1,751 support breaks, the price is likely to move toward this area.
2. Resistance:
• Strong resistance around $2,280 – $2,300
Marked by the thick purple horizontal line at the top. This is a significant area from a previous supply zone and could be a potential target if the price breaks upward.
• Minor resistance in the FVG 4H area (around $1,880 – $1,900)
This Fair Value Gap area could act as a balanced zone that often attracts price for a retest.
• Dynamic resistance:
• 200 MA (orange curved line): currently may also act as a dynamic resistance level.
Summary:
• The price is currently in a sideways/consolidation phase above the $1,751 support level.
• It’s important to watch whether the price will bounce from support or break downward toward $1,580.
• If the price starts to rise, the FVG 4H zone could be a short-term target, with the major resistance at $2,280 as the next potential target.
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so do your own research
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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.