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 moving in a triangle marked with yellow lines.
Let's start with the support line and as you can see the first support on which the price is currently based is $1602, if the support is broken then the next support is $1569, $1562 and $1422.
Now let's move on to the resistance line, as you can see the first resistance is $1614, if you manage to break it, the next resistance will be $1639, $1659 and $1679.
Looking at the CHOP indicator, we see that there is some energy left for a new move, the MACD indicates a local downtrend, while the rsi is moving at the lower end of the range, which gives room for new increases.
Let's start with the support line and as you can see the first support on which the price is currently based is $1602, if the support is broken then the next support is $1569, $1562 and $1422.
Now let's move on to the resistance line, as you can see the first resistance is $1614, if you manage to break it, the next resistance will be $1639, $1659 and $1679.
Looking at the CHOP indicator, we see that there is some energy left for a new move, the MACD indicates a local downtrend, while the rsi is moving at the lower end of the range, which gives room for new increases.
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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.