ETH - USDT, 1D Interval Resistance and Support
I invite you to review the current situation on the ETH chart in pair to USDT, also on a one-day interval. In the first place, the yellow line can be used to mark the uptrend line that managed to keep the ETH price from falling further.
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 $1395 and 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 have the first very strong resistance at the price of $1666 which is the so-called golden point of 0.618 Fib, the next resistance is at the price of $1825 and then the third resistance at the price of $2032.
The CHOP index indicates that there is still some energy left for further movement. The MACD indicator remains in a downward trend. However, on the RSI we see that it has returned to the beginning of the upper part of the range.
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 $1395 and 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 have the first very strong resistance at the price of $1666 which is the so-called golden point of 0.618 Fib, the next resistance is at the price of $1825 and then the third resistance at the price of $2032.
The CHOP index indicates that there is still some energy left for further movement. The MACD indicator remains in a downward trend. However, on the RSI we see that it has returned to the beginning of the upper part of the range.
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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.