Daily review of ETH interval 1D
Hello everyone, I invite you to review the chart of ETH in pair to USDT, this time on a one-day interval. First of all, using the blue line, we can mark the downtrend, from which the price went up, while currently ETH is on the border of the uptrend line.
As we can see, EMA Cross 10 and 30 are close to entering a downtrend when the red line crosses the green line from above.
Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark the supports, and as you can see we have the first support at $1472, the second support at $1396, then we can mark the strong support zone from $1319 to $1211.
Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here we first have a strong resistance zone from $1553 to $1663, the next resistance is at $1825 and then the third resistance at $2029.
The CHOP index indicates that there is still energy left for the next move. The MACD indicator is in a downtrend. However, on the RSI we see a rebound and that we are moving in a downtrend.
As we can see, EMA Cross 10 and 30 are close to entering a downtrend when the red line crosses the green line from above.
Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark the supports, and as you can see we have the first support at $1472, the second support at $1396, then we can mark the strong support zone from $1319 to $1211.
Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here we first have a strong resistance zone from $1553 to $1663, the next resistance is at $1825 and then the third resistance at $2029.
The CHOP index indicates that there is still energy left for the next move. The MACD indicator is in a downtrend. However, on the RSI we see a rebound and that we are 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.