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Fibonaccianalysis

GTE The breakdown of the diagonal is likely a HTF Primary W1 into W2 because it's on the monthly. Typically a leading diagonal is a bearish precursor to a reversal. Also leading diagonals most likely form a wave 1 into w2 set ups. The 786% might be too optimistic, as the wave 1 was 5 up which means sub wave A which equals the 5 up diagonal which equals the HTF w1 is a HTF Zig Zag & Zig Zags can bounce off the 50%-618%. But the underlying nature of W2 is to destroy any hope of the wave 3. So rather the 786% is usually a trademark of the wave 2. Basically a lot of conflicting forces at play here as to where the bottom forms. But catching this dip for a LT play seems very smart as W3 is targeting $16-$18 & Wave 5 $200 plus.
AMEX:GTE
by Big_Mike716
3
🛠️ Trading Tools Cheat SheetFibonacci Levels, Pitchfork, Fibonacci Arcs, Gann Square, Gann Fan, and Elliot Wave are technical analysis tools used in trading to identify potential levels of support and resistance, anticipate future price movements, and make informed investment decisions. These tools are based on mathematical calculations and relationships between price, volume, and time. They are widely used by traders to gain insights into market trends and make investment decisions based on past market data. However, it's important to note that these tools are not a guarantee of future performance and can produce false signals, so they should be used in conjunction with other forms of analysis and with a solid understanding of market dynamics. 🔹 Fibonacci Levels A technical analysis tool that uses horizontal lines to indicate areas of potential support or resistance based on the Fibonacci sequence. 🔹 Pitchfork A technical analysis tool that uses three parallel lines to identify potential levels of support and resistance and to anticipate future price movements. 🔹 Fibonacci Arcs A technical analysis tool that consists of several curved lines that originate from two extreme points (high and low) and converge at the fibonacci levels. 🔹 Gann Square A technical analysis tool that uses a grid to identify potential support and resistance levels and to predict future price movements based on the relationship between time and price. 🔹 Gann Fan A technical analysis tool that uses diagonal lines to identify potential levels of support and resistance and to anticipate future price movements. 🔹 Elliot Wave A technical analysis tool that tries to identify patterns in financial market data, particularly in stock market prices, which in turn can be used to make investment decisions. It's based on the idea that market prices move in predictable waves. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
9
Fibonacci Retracement Levels In Forex TradingBoth novice and seasoned traders use Fibonacci levels as one of the most common and universal strategies when trading forex and other markets. It is a well-known fact that market prices incline toward levels where the bulk of market orders are gathered. Such levels can be found and predicted using a variety of ways. Systems for trading are built on a variety of levels. Since traders first realized that the price fluctuations of some assets frequently followed the Fibonacci number sequence, the Fibonacci levels have been employed in trading. The standard Tradingview trading platform, which is currently the most well-known and in demand, includes the tool because of how useful it is. Leonardo Fibonacci, who was born in ancient Italy, discovered a straightforward numerical sequence that is utilized globally and is consistent with a wide range of natural occurrences. The order is as follows: 0 followed by 1, then 1 (0+1), then 2 (1+1), then 3 (1+2), followed by 5, then 8 (3+5), etc. It appears that the Fibonacci sequence is the sum of the two numbers before it. An intriguing ratio may be calculated using these numbers: 0.618 is the result of dividing the first by the second (regardless of which of the numbers in the sequence are taken). And you get 0.382 when you split the numbers by one. The "golden ratio" is this set of fractions, and it appears frequently in nature, a striking example is a spiral like the seeds in a sunflower. The following are the trading-related Fibonacci correction levels: 0.236, 0.382, 0.500, 0.618, and 0.764. Levels of expansion are 0; 0.382; 0.618; 1.000; 1.382; and 1.618. It makes no sense for traders to manually calculate any of these figures, which are all calculated from the sequence. The key is to comprehend how they operate, what they are used for, what data they offer, and how to make effective use of them when trading. Special indicators that automatically draw lines on the chart or symbols in the trading platform are used while trading with Fibonacci levels. Retracement levels can be utilized for a number of purposes, such as support and resistance, to start trades, and to set stop orders. The usage of extension levels by traders for take-profit placement. Based on swings, or candles with at least two upper highs or upper lows on the left and right, Fibonacci levels can be applied to a chart. Additionally, bear in mind that Fibonacci levels for forex are a trending technique and are not applied during periods of consolidation. When the trend is upward, the price tends to retreat from Fibonacci-based resistance levels; the opposite is true for downtrends and support. Fibonacci Levels in Forex: How to Use Them Almost all charting applications contain Fibonacci retracement levels. Fibonacci lines are regarded as the most flexible and understandable option, however others also use fan lines, arcs, and time periods as typical tools. What do you need to know about Fibonacci numbers in order to trade? Values are calculated as 23.6, 38.2, 50.0, 61.8, and 76.4% on a scale of 0 to 100. The primary signal for foreseeing likely future price fluctuations is these ratios (prices often bounce back from levels). The indicator shows levels on the price chart and allows forecasting of future price changes.If you want to manually trade using the price chart or the software, you can select to display correction levels. To do this, drag the cursor from the bottom point of the trend to the top point. There will be five horizontal lines that display 0, 38.2, 50, 61.8, and 100% (an additional line showing 23.6% can be added). Depending on whether Fibonacci is trading above or below the lines, the lines can be utilized as support or resistance levels. The levels activate more frequently as the time span becomes longer. Finding a downward trend, appropriately stretching the Fibonacci lines, waiting for confirmation, and placing an order are the essential duties of a trader. Numerous strategies for using numerical series in trading exist. How Fibonacci Levels Work And How To Use Them In Trading Trading professionals can examine the changes in asset values by using Fibonacci numbers that are displayed as lines on the chart. As a result, resistance/support levels are established, and the degree of a trend movement's already-started corrective is examined. The price typically follows the guidelines of key levels on the Fibonacci lines. Therefore, there is a strong likelihood of a price reversal at the level, for instance, if the price crosses the line. Fibonacci retracement levels are particularly helpful for discovering pullback levels, for establishing the conclusion of a pullback, and for the continuation of price movement along with the trend because pullbacks are a natural part of every trend. The key correction levels are created by the interrelations between a trend and a correction shown by Fibonacci levels, which have recovery probabilities of 38%, 50%, and 62%. It only takes placing a grid over critical spots to see that pivotal price levels frequently cross Fibonacci percentage lines. Fibonacci levels and graphical patterns can be used to coincidentally determine market entrance and exit points. Opening profitable trading positions after a collapse or rebound from a level is beneficial. Trading professionals frequently employ Fibonacci lines to place Stop-Loss and Take-Profit orders. To avoid being caught by an unintentional pullback, it is preferable to position the Stop-Loss order above the levels (for the recovery from which the trader is counting). Take-Profit levels are based on Fibonacci extension.Remember that on a price chart, the support/resistance areas that coincide with the Fibonacci net levels are viewed as further support for the lines' significance. This instrument is the foundation of many trading techniques. Beginners should be aware that there is no definitive interpretation of the Fibonacci technique; it is merely a point of reference. Trading systems frequently incorporate Fibonacci levels with other technical analysis tools because this technique can occasionally fail to corroborate the signals. Importance Of Different Fibonacci Levels Expert traders claim that not every Fibonacci level behaves the same way on a price chart. Before using the instrument for trading, some regularities should be studied. Fibonacci levels and their importance in trading: 23.6 - weak, a clear confirmation is required to use it in trading. 38.2 - an important level, the price of the asset bounces from it for further consolidation. 50 is intermediate in importance between the two previous levels and gives a high probability of trigger. 61.8 - strong, like 38.2. 76.4 - 80.9 is a strong level as well. The likelihood of a profitable trade is quite high if we consider the strength of the levels, trade in line with the trend, weed out erroneous signals using a straightforward extra indicator, and avoid using low time frames. Additionally, it's critical to remember risk management and trading psychology's fundamental principles. Advice for using 38%, 50%, and 62% levels effectively Stretched between the trend's minimum and maximum, a grid is drawn on the graph. On the charts, three to four separate time frames with longer value movements can be displayed in various colors. Numerous Fibonacci levels will be displayed on the graph, allowing for analysis. Usually several of them exactly coincide on various time scales, therefore they are regarded as significant support/resistance levels. These three can be utilized to enter positions and exit open ones because fibonacci numbers have potentially important levels. These price retreat levels by themselves are not what drives price movement; if this line doesn't have the appropriate support, it will simply go to the next. More accurate signals are produced by combining Fibonacci with other tools (such as Moving Averages, trading channels, reversal patterns, etc.). A significant resistance/support level is 62%. When it is attained, the price frequently starts to vary erratically. When the price surges past the 62% level and moves on to the 70–75% retracement level (before returning to the 62% level), you can place an order. When two to three further crossover signals are received, trades can be initiated from deep retracement levels. It is preferable to avoid entering if there are no cross confirmations. It's also a good idea to keep in mind that once the correctional movement reaches the 62% pullback level, it may go on to reach 100% in the chosen time frame and stop the trend. Fibonacci Levels: How to Use Them in Forex Trading Fibonacci levels can be used relatively easily. The most crucial levels in forex trading are 23.6% and 38.2%, 61.8% and 76.4%. They are used to identify price pullbacks; when one appears on the chart, one should wait for a favorable price before joining the impulse (enter the movement at the moment of a pullback). When there is a significant market movement, the asset's price can drop by up to 23.6%, 38.2%, or even 50%. These ranges are regarded as ideal. Price increases of 61.8% or more may signal the beginning of a trend reversal. The Fibonacci levels should be drawn correctly: -Finding the price impulse. -Plotting the grid on the chart. -The expectation of a pullback to 23.6% or 38.2% or 50% to enter the market. -When there is no pullback, the price keeps moving, updating the lows/maximums, it is worth pulling over the grid based on new local extrema. -In this case, it is important not so much to determine the levels as to understand whether the current price movement is a correction concerning the previous one or the beginning of a new trend. When Fibonacci Correction Levels Do Not Work Fibonacci levels are not 100% reliable signals; they are more like rough guidelines that give information about the movement that is likely to occur. Fibonacci levels can also be broken occasionally, just like support/resistance levels can. There are many exceptions to the rules, therefore it is advisable to check the signals with additional tools and to take the maximum precautions when opening any position. The levels need to be carefully worked, refined, and filtered on a regular basis. Sometimes levels might be crossed, and the bounce occurs at 61.8 instead of 50%; other times, the price skips levels and views essential ones as weak and unimportant ones as important. Because of all these features, it is important to be able to combine different tools in a strategy and constantly gain experience trading with the selected tools. Conclusion The suggested strategy broadens the potential uses for trading with Fibonacci levels. You can use it to your advantage so that practically any corrective movement—not just ones that conclude at 38.2% or 61.8%—will be beneficial. You must be able to accept what the market offers you since it doesn't always move that well.
Education
by FOREXN1
15
ETHUSD - Trading RangeThe market is currently displaying signs of an ABC correction, with the focus being on wave C. Key level to watch is 1500, as a substantial amount of liquidity has been accumulated during the trading range in this area. This could potentially provide an opportunity for traders to enter the market if the long positions are flushed out. The Fib 0.5 level of the entire impulse wave could be a potential entry point for traders who are seeking a low-risk, high-reward opportunity. However, it is important to keep in mind that the market is constantly evolving and it is crucial to closely monitor any changes or developments to ensure a successful trade. In conclusion, the current market conditions indicate a potential trading opportunity for those who are able to accurately analyze market trends and make informed decisions. The key to success in any trade is to remain vigilant and adapt to the changing market conditions.
INDEX:ETHUSD
by SiDec
1
Daily review of ETH interval 4HHello everyone, let's look at the ETH to USDT chart on the 4-hour timeframe. As you can see, the price is moving in the channel marked with yellow lines. Let's start with the support line and as you can see the first support in the near future is $1576, if the support is broken then the next support is $1557, $1542 and $1527. Now let's go to the resistance line, as you can see the first resistance is $1607 where the price turned around, the next resistance will be $1623, $1647 and $1678. Looking at the CHOP indicator, we see that energy has been used for the recent move, the MACD indicates a local downtrend, while on the rsi we see a rebound after a rebound.
by cryptodailyuk
1
USOIL May Target 103 At Some PointUSOIL May Target 103 At Some Point. An M pattern has been completed but because the price jumped sooner than expected from 76.48, this FCP zone is left with less strength. Because of that the market is finding it hard to make a good bullish move and is simply consolidating. Right now it is in a consolidation phase but has started to show a bullish structure. If this structure stays intact, USOIL can start to move higher in time. There is a huge gap left above 100 around 103 level as we have a double top (liquidity area) around 93. USOIL at some point in time can target this leftover gap. Please support this analysis by liking and sharing. 👍🙂 Rules: 1. Never trade too much 2. Never trade without a confirmation 3. Never rely on signals, do your own analysis and research too ✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums. ✅ Follow me for future ideas, trade set ups and the updates of this analysis ✅ Don't hesitate to share your ideas, comments, opinions and questions. Take care and trade well -Vik ____________________________________________________ 📌 DISCLAIMER The content on this analysis is subject to change at any time without notice and is provided for the sole purpose of education only. Not a financial advice or signal. Please make your own independent investment decisions. ____________________________________________________
TVC:USOILLong
by vikinsa
DOT / USDT 1D CHART - Resistance and SupportHello everyone, I invite you to review the DOT chart in pair to USDT on a one-day timeframe. Let's start by marking the downtrend line, which the price has broken above, and we are currently moving above the uptrend line. Let's move on to denoting the resistances that the price must overcome, and here we see that the first resistance is at $7.14, the second resistance is at $8.06, the third is at $8.96 and the fourth is at $10.24. Looking the other way, we can similarly determine the places of support. And here we have the first support at $6.23, the second at $5.85, then we can mark the support zone from $5.55 to $5.20, and the second support zone from $4.78 to $4.20. As we can see, the EMA Cross 10 and 30 indicate an uptrend, the CHOP index indicates entering a local downtrend, while the RSI shows a rebound and a downtrend.
by cryptodailyuk
2
Daily review of BTC interval 4HHello everyone, I invite you to review the chart of BTC vs. USDT on a four-hour timeframe. As we can see, the price is moving in the local pattern trend channel. Now let's move on to marking the support points that the price has in case of further declines. And we can see that the first support is at $22955, the second support at $22679, if the price goes lower we can see a drop to around $21873 in line with the pattern being formed. Looking the other way, in a similar way, we can determine the places of resistance that the price has to face. As you can see, we have the first resistance at $23,305, the second resistance at $23,509, the third resistance at $23,663, and then a strong resistance zone from $23,842 to $24,078. It is worth watching the EMA Cross here, because we can see that the red EMA Cross 10 line turns around and when it crosses the green EMA Cross 30 line from above, we can see the entry into a downtrend. The CHOP index indicates that the energy is gathering strength, the MACD indicates a local downtrend, while the RSI has a healthy rebound, which may make room for new increases.
by cryptodailyuk
1
Cardano bullish flag formationHey Trader! This analysis is based on the idea of a Bullish Flag which is illustrated in this analysis. The thick bottom line that follows the market price is the support line for Cardano. On the other side of the price is the resistance line. This flag is pointing downwards which is a strong signal that the price will break out as a bullish breakout. Since late December, when the price formed the current strong support at 0.2395, the price has begun a bullish trend where it has recently shown its potential to break this flag formation. If the price is to follow Fibonachi's indication, the price has the potential to reach the target at 6.0035 I hope this analysis was instructive and can be used for thinking about how the price trend can potentially fluctuate in the future.
Long
by Aksel_Rom
XRP/USDT - XRP is testing an abandoned formationHello everyone, I invite you to take a look at the XRP/USDT chart on the one-day time frame. As we can see, we are just below the downtrend line that XRP is clearly trying to break. Moreover, we see a rounded bottom pattern which after a positive resistance test is characterized by an upward breakout, in this situation we need to positively test the $0.40 resistance which is now price support, then we can see the $0.43 resistance, then a strong resistance zone from $0.46 to $0.50. However, if it happens that the price does not keep up with the pattern and our expectations, we can see a correction in this situation, we have the first support at $0.40, the second support at $0.38, the third at $0.37, then the support zone from $0.35 to $0.34. The CHOP index indicates that we have a lot of energy, the MACD indicates the entry into a downward trend, while the RSI shows a rebound and a visible downward trend.
by cryptodailyuk
1
YOU : POSITION TRADEClear Secure: Talk About A Bullish Economic Moat • Clear Secure is capturing strong demand for its identity verification platform as a service to save time at security checkpoints. • Partnerships with airports, airlines and even the Transportation Security Administration highlight competitive advantages to drive growth. • An outlook for accelerating earnings can send the stock higher. • Looking for a helping hand in the market? Members of Conviction Dossier get exclusive ideas and guidance to navigate any climate. Clear Secure, Inc. (NYSE:YOU) offers a secure identity verification platform. If you've recently traveled through one of 46 major airports, you'll likely have seen the "Clear" checkpoints as a separate lane in the security process. Clear Pass focuses on the ID verification side of the airport screening process. The other step is the actual security area where travelers and carry-on luggage are checked for contraband. With the company's history going back more than a decade, the game changer now is a belief that the operation has finally reached a critical mass with enough locations where the service can make sense to a wide range of travelers. This concept is related to the network effect where the value of the service grows as its user base expands. Furthermore, the platform is being utilized in other applications where security screening is a requirement and there is room to capture efficiencies in the process. Members of Clear Plus also have the option to use the features at entertainment venues and stadiums where a security line often forms. Clear also offers a Health Pass which gained prominence during the pandemic with validation of COVID testing results and digitization of vaccine status that many types of business in certain areas embrace. Notably, this feature now integrates with Apple Inc.'s (AAPL) "Health App". YOU Key Metrics YOU released its Q3 earnings in mid-November with EPS of $0.05, which beat estimates by $0.05 as consensus was looking for a flat result. Revenue of $116 million climbed by 72% year-over-year, with the strength largely driven by the recovery of the airline industry compared to pandemic disruptions at the start of 2021. Management notes success with in-airport and various partner channels driving memberships captured in a climbing number of bookings along with retention of customers. On the financial side, keep in mind that there was a GAAP loss of -$65.6 million although this mostly reflected share-based compensation and the timing of the vesting from previously issued warrants. More favorably, the underlying shift towards profitability is evidenced by the adjusted EBITDA measure which reached $11.9 million compared to negative -$14.5 million in the period last year. The company also reported a positive free cash flow of $5.3 million. The expectation is that earnings will maintain this more positive momentum going forward. For Q4, management is guiding for revenue of around $124 million, implying a growth rate of 54% compared to Q4 2021, and up 7% on a quarter-over-quarter basis. Finally, we can mention Clear Secure maintains a solid balance sheet, ending the quarter with $700 million in cash and cash equivalents against effectively zero long-term financial debt. The position is strong enough that the Board of Directors declared a special $0.25 dividend which was paid in December. Are There Risks? The key for the company will be to maintain the pace of signups for new members while finding success in international markets. Longer-term, Clear Secure will need to become the global standard for secure identity verification not just in travel, but also leisure, and other industries with a visible presence in more and more countries as part of the bullish case. The other side to the discussion would be the risk that growth simply begins to disappoint while the expected earnings fail to materialize. One concern is that the company may have already captured the "low-hanging fruit" of hard-core heavy business travelers where the Clear Pass makes the most sense, at least from the U.S. market. By this measure, doubling the number of cumulative platform users from here will be more difficult. There is also an argument that if "everyone" is using Clear/TSA PreCheck, it begins to defeat the purpose of a priority security lane membership. It's not there yet but could become a problem at certain airports if the platform is too successful. Going further, a skeptic would also point to the regulatory risks where the service no longer becomes viable based on changing laws in the future or even in a scenario of a headline-making failure in the system that would undermine confidence in the company's security protocol. Read more on : seekingalpha.com Dan Victor, CFA, Seeking Alpha, Jan. 05, 2023 3:19 PM ET
NYSE:YOULong
by TradingMavericks
Daily review of ETH interval 4HHello everyone, let's look at the ETH to USDT chart on the 4-hour time frame. As you can see, the price is moving above the local downtrend line. Let's start with the support line and as you can see the first support in the near future is $1604, if the support is broken then the next support is $1578, $1560 and $1540. Now let's move to the resistance line, as you can see the first resistance is $1627, if you manage to break it, the next resistance will be $1648, $1674 and $1751. Looking at the CHOP indicator, we see that we have a lot of energy for the next move, the MACD indicates a local uptrend, while the RSI indicates an uptrend and the upper part of the range.
by cryptodailyuk
Cardano Bullish BreakoutHey Trader! This analysis is based on an Ascending Triangle. Since the price of Cardano has been moving in a bull market lately, it is not uncommon to see a formation like an Ascending Triangle that will have a bullish breakout. Below the price and the triangle are two notable support levels which have a major impact on Cardano's buying power. These two support levels are located at 0.3295 , & 0.2657 . Based on the recent price action, Fibonacci indicates a target at 0.5562 which can be reached as a result of a potential bullish outbreak from the triangle. In addition, Cardano's market price has crossed the 50-day moving average which in itself indicates a buy recommendation (the 50-day moving average is visualized by the grey line). I hope this analysis was instructive and can be used for future consideration of Cardano's situation and the potential that can be exploited.
Long
by Aksel_Rom
ALGO - Fib Time & Space Predictions using the Power of PyramidsALGO - Fib Time & Space Predictions using the Power of Pyramids the length of each segment of the blue rektangles is equal to the time price spent inside of the price range of the pyramid (diamond) so using pyramids give us knowledge about time AND space that lower triangle caught my eye a while back and i had to leave it on there interestingly it lines up well with the fib spiral the angle of the center line of the pyramid tells us about the ratio of the blue rektangles the golden ratio and eureka! the yellow lines are the fib time tool the coordinates being the time price spent in the range of the pyramid exactly matching my blue rektangles Let's watch how this goes
COINBASE:ALGOUSD
by antempire4
2
Cardano Ascending Triangle formationHey Trader! This analysis is based on the Ascending Triangle concept, which is formed by the price of Cardano. In the analysis two support levels are visualized; Strong support at 0.2983 - 0.3290 , allocating back to mid-December, and the support level at 0.3632 . As the drawn triangle shows, the price follows bullish also called an "Ascending Triangle". This triangle combined with the Fibonacci tool can create a true picture of how the price of Cardano may land at the target at 0.5178 . I hope this analysis helped to give an instructive picture of Cardano's evolution and can be taken into consideration for the current situation as well as the future.
Long
by Aksel_Rom
FTM / USDT 1D Interval - Support and ResistanceHello everyone, I invite you to review the FTM chart in pair to USDT, on a one-day interval. We will start by marking the downtrend line that the price has broken up. Next, we can define the lines of the current uptrend. Now let's move on to marking the support that we should take into account after such dynamic increases. And here we have the first support at the price of $0.42, the second support at the price of $0.37, then we can mark a strong support zone to which the price may move back from $0.33 to $0.29, and then support at the price of $0.24. Looking the other way, we can see that we are currently facing a very strong resistance at $0.52, but when we manage to overcome it and positively test it, we can see an increase to around $0.74. It is worth paying attention to the EMA Cross 50 and 200, because we see that the 50 marked on the chart with the yellow line dynamically turns upwards and when it crosses the 200 marked with the blue line, we can see a bullish uptrend. The Chop Index indicates that we are slowly regaining energy, the MACD indicates an ongoing uptrend, while the RSI has a slight rebound, but is still moving above the upper range, which may lead to a price correction.
F
by cryptodailyuk
Daily review of ETH interval 4HNow let's move on to the chart of ETH against USDT, also on a four-hour time frame. And here we can start by identifying with the yellow lines the triangle in which the price is moving. Going further, we see that we have the first support at $1602, the second support at $1579, the third at $1560, the fourth at $1540 and the fifth at $1514. Looking the other way, we can also identify places where the price may encounter resistance. And here we have the first resistance at $1613, the second resistance at $1628, the third at $1648 and the fourth at $1675. As we can see, EMA Cros indicated entering a local downtrend, but now it should be observed whether EMA Cross red 10 will cross the green line from below, which may be a confirmation of entering a local uptrend. The CHOP index indicates that we have more and more energy for the next move, the MACD indicates entering a local uptrend, while the RSI has changed the direction of the trend to an upward one.
by cryptodailyuk
Daily review of BTC interval 4HHello everyone, I invite you to the Friday cryptocurrency review. Let's start by checking the situation on BTC in pair to USDT on a four-hour interval. First of all, it is worth marking the uptrend channel in which the price is moving, while locally we are moving under the downtrend line. Now let's move on to determining the support places for the price and here, using the trend based fib extension tool, we can mark the first support at $ 22,750, if it is broken, we have the second support at $ 22,078, and the third at $ 20,989. Looking the other way, in a similar way, we can identify resistance points for the price, and as you can see, the first resistance is at $22995, at which the price turns around when we break it, the second resistance will appear at $23,438, the third strong resistance at $23,782 and fourth at $24,126. Let's also pay attention to the CHOP index, which indicates energy depletion, the MACD indicates a local downtrend, while the RSI shows a rebound and a downtrend.
by cryptodailyuk
1
Daily review of ETH interval 4HHello everyone, let's look at the ETH to USDT chart on a 4-hour time frame. As you can see, the price is moving in a triangle and is getting closer to leaving it. Let's start with the support line and as you can see the first support in the near future is $1562, if the support is broken then the next support is $1542, $1515 and $1480. Now let's move to the resistance line, as you can see the first resistance is $1583, if you manage to break it, the next resistance will be $1600, $1615 and $1630. Looking at the CHOP indicator, we see that there is some energy left for further movement, the MACD indicates entering a local downtrend, while the RSI shows a rebound and a downtrend.
by cryptodailyuk