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Fundamentalstrategy

ETH/USDT 4HInterval Chart Hello everyone, I invite you to review the ETH pair to USDT chart, taking into account the four-hour interval. We will start by identifying with the blue lines the local downtrend channel where the price is approaching the upper limit again. However, when we turn on the moving averages Ema Cross 10 and 30, we can see the confirmation of the return to the local upward trend. Now let's move on to marking the support places. We will use the Fib Retracement tool to mark supports, and as you can see, the price has again broken out above the support at $2,028, if we fall lower again we can see a return to the support zone from $1,960 to $1,911. Looking the other way, we can similarly mark places where the price should encounter resistance on the way up. And here we can see the fight against the resistance level at $2048, only when the price stays above it and leaves the downtrend channel will we see an attack on the resistance zone from $2087 to $2137. The CHOP index indicates that most of the energy is used, on the RSI indicator we have returned to the upper part of the range with room for growth, but on the STOCH indicator we are moving above the upper limit, which may translate into a price recovery.
by cryptodailyuk
BTC/USDT 1DInterval ChartHello everyone, I invite you to review the current situation on BTC in the USDT pair, taking into account the one-day time frame. First, we will use blue lines to mark the local upward trend channel in which the BTC price is moving at the upper limit. To check where we are, we will use the Fib Retracement tool. And here a strong resistance zone should be marked, which in the long term blocks the price from $35,677 to $41,195, what's more, it is also the upper limit of the currently marked channel, only after we exit this zone upwards, we should see it tested and then a possible upward movement towards resistance at $48,107. However, when this zone rejects the price and a larger correction begins, we may see the price return to the strong support zone from $32,715 to $29,404. only when the price breaks through the bottom, we still have the second zone from $24,119 to $20,285. After turning on the EMA Cross 50 and 200 indicator, it is clearly visible that the price remains in a very strong upward trend, although we may see a correction in the coming days. Please pay attention to the CHOP index, which indicates that energy is being collected again, on the RSI indicator we are moving at the upper limit, similarly to the STOCH indicator, which may also affect the price recovery after the recent increases.
by cryptodailyuk
MO Altria Group possible A=C plus bear flag Let's discuss it.Hi , Well, first of all, it's important to note that I have an open position in this dividend-paying stock because I want to hold it for the long term. However, we should not ignore the fact that we will start wave C of a possible ABC correction soon. We can also see a bear flag shape. Both have a price target of ~$14 to $15. Regarding the fundamentals, some important things: Traditional tobacco companies have to face the fact that their products are becoming more and more expensive, thus many people buy cheaper products. Vapor and liquid alternatives are increasingly popular among the younger generation. Because they are fragrant, tasty and cheaper. Although these companies have made a lot of profit in the past decades, they are now facing another challenge. If they want to stay competitive, they have to develop to catch up with their competitors who produce products based on new technologies. Altria Group is constantly working to achieve this. However, the transformation of the production technology and the necessary permits (e.g. FDA) are essential for its success. It's all money and time. All in all, I think that stocks of traditional tobacco companies are still a good long-term investment. However, it should be taken into account that they may underperform in the coming months. And they can hit new lows. That's why I didn't use all my resources that I intended for this stock. Because if we actually reach the ~$15 zone, then I want to significantly increase my position size there. Please tell me what you think about it. And share your thoughts. Do not forget. This does not constitute investment advice. Do your own research before entering a position.
NYSE:MO
by XOX_XOX
6
XAU/USD Setup According To Middle East EscalationHello Friends. Im back with a broad perspective on GOLD. According to happening these days in Middle East (Hamas Terrorists against Israeil war) there are a perfect catalyst for Gold to See Upper levels. Lets take a look at Multi timeframe charts: 1)Daily chart In 1D chart we can see a bearish trendline that price will see it again in coming days. Here is where MAs meet each other (200 and 100 MAs are more important) and also there is a strong resistance level there (1900 level). after fall into 1800 - 1810 support level we saw a Strong Demand in Gold market and price started to rise with a Bullish Engulfing pattern occurs in this level. You can see my explanation in chart below : 2)Elliot Wave Count (15m Timeframe) When we look at Gold Elliotly (:D) we can see a 5wave impulsive wave being completed as 1st wave of an upper degree Wave. So you can see my wave count in chart below and due to Market Catalyst the correction wave Supports at 23.6% Fibo level. 3)15m Price Action As you can see in my main chart , near the 1800 support level , a Trading range shaped and we see a strong Breakout after the News abot war. This made a Spike phase (With an UP GAP at market opening). Now we passed spike and go throgh an increasing channel. Whats more is that we saw a Bullish Divergence between Price action and RSI. Finally , I think Gold going to be bullish in cimig days and at least reach the 1900 level. I hope you enjoy my idea. PLZ share your opinion with me in comments. Thank you ALL #Worldpeace
OANDA:XAUUSDLong
by TraderAmin-KZ
Gold (GC1! Futures) Identifying next SHORT zoneAs of today, GC1 has now broken above the current zone, and has closed on a higher timeframe. In accordance with prior breaks, we now look for a retest of the broken zone at the 0.5 FIB of todays daily candle: The next target is either: 1) The next zone up OR 2) The prior neck line of the long term H&S identified in August. Keep in mind, despite this short term bullish price action, the trend for Gold is still BEARISH, hence why we continue to long for short opportunities at each historical zone. Just to be clear : My trading is based off of many factors, but an important factor is the many historical monthly zones plotted on the chart. While there will be times where the zones are broken against our favour, the OVERWHELMING MAJORITY of the time, these zones will hold. As highlighted on the chart, these are all examples of where adhering to these zones would have netted 50 - 100 points moves. Points, not pips. I will be posting more real time updates though the day of 20/10/23. Stay safe and manage your risk accordingly!
COMEX:GC1!
by Aaron_K_Trading
1
MATIC/USDT 1DIntervalI invite you to review the MATIC chart. As we can see, the price dropped below the blue EMA Cross 200 line, thus returning to the strong downtrend. However, here, after marking the downtrend channel, we can notice that the price breaks out of it sideways, which may have a positive impact on it and may translate into a change in direction. When we unfold the Fib Retracement grid, we can see that the price has returned and remains in a very strong support zone that starts at $0.58 and continues up to $0.31. Looking the other way, we can similarly determine the resistance areas that the price must face. And here we see that there was a strong rejection of the price from the zone from $0.74 to $0.90, but when the price breaks it, it will have an open path towards the second zone from $1.15 to $1.33. The CHOP Index indicates that the energy is gaining more and more strength. However, the STOCH and RSI indicators show a visible recovery with room for the price to drop to a lower level.
M
by cryptodailyuk
BTC/USDT 1D Review CHartHello everyone, I invite you to Tuesday's review of the current situation on BTC in the USDT pair, taking into account the one-day time frame. First, we will use blue lines to mark the upward trend channel from which, as you can see, the price has come out at the bottom. Therefore, at this point, you need to determine a new side trend channel in which the price is currently moving. When we turn on the EMA Cross 200, we can see that the BTC price has gone above the blue moving average line of 200, and we are currently struggling to stay in the uptrend. Now we can move on to marking support areas in case the correction deepens. And here, first of all, it is worth marking the support zone from $25,617 to $23,654, from which the price has already bounced several times, but when we fall below this zone, we may see a drop to the vicinity of the second, very strong support zone from $21,748 to $18,976. Looking the other way, we can determine resistance locations in a similar way using the Fib Retracement tool. And here you can see that the price is again approaching the resistance at the level of $28,043, only when we go up above it, we will see an attempt to attack the very strong resistance at the level of $31,912, which is also the upper limit of the currently ongoing sideways trend channel, then a path will open up direction $35,724. Please pay attention to the CHOP index, which indicates that the energy is slowly starting to grow, on the STOCH indicator we are near the upper limit, which may result in a greater recovery, but on the RSI indicator we are back near the middle of the range and considering that we have not touched the upper limit, we can see a new attempt at growth after the current recovery.
by cryptodailyuk
2
Has Oil Reached Peak Demand? Unveiling the Unique OPEC+ DealIntroduction: In recent years, the global oil market has witnessed significant shifts that have left traders and analysts questioning the future of this vital commodity. One of the most intriguing developments is the unique Russia-Saudi Arabia OPEC+ deal, which has sparked speculation about whether we have reached peak oil demand. In this article, we will delve into the details of this groundbreaking agreement and encourage traders to question their long-term perspectives on oil in a cautious tone of voice. Understanding the Russia-Saudi Arabia OPEC+ Deal: The Russia-Saudi Arabia OPEC+ deal, initiated in 2016, aimed to stabilize oil prices by managing production levels. This unprecedented alliance brought together the world's largest oil producers, including Russia, Saudi Arabia, and other OPEC members, to collectively adjust their output to balance supply and demand. The agreement's primary objective was to prevent a repeat of the 2014 oil price crash, which had severe repercussions for the global economy. Peak Demand: A Paradigm Shift: However, the dynamics of the global energy landscape have evolved since the inception of the Russia-Saudi Arabia OPEC+ deal. Heightened concerns over climate change, coupled with the rapid growth of renewable energy sources, have led to a paradigm shift in the way we perceive and consume energy. As a result, the notion of peak oil demand has gained traction, suggesting that global oil demand may have reached its peak and is now on a downward trajectory. Call-to-Action: Questioning Longs on Oil: In light of these emerging trends, traders must reevaluate their long-term perspectives on oil. While the oil demand will likely persist for years to come, the Russia-Saudi Arabia OPEC+ deal and changing global dynamics necessitate a cautious approach. Here are a few key points to consider: 1. Diversify Your Portfolio: As the energy landscape transforms, it becomes crucial to diversify investment portfolios to include renewable energy sources, clean technologies, and other sustainable sectors. This will help mitigate potential risks associated with a declining demand for oil. 2. Stay Informed: Keep a close watch on market trends, technological advancements, and government policies that promote renewable energy. Understanding the evolving landscape will enable traders to make informed decisions and adapt to changing market conditions. 3. Embrace Innovation: Explore opportunities within the renewable energy sector, such as investing in solar, wind, or hydrogen technologies. These sectors are expected to experience significant growth and may provide alternative avenues for profitable investments. Conclusion: The unique Russia-Saudi Arabia OPEC+ deal has undoubtedly played a crucial role in stabilizing oil prices and ensuring market equilibrium. However, the rise of renewable energy sources and growing concerns over climate change have led to the notion of peak oil demand. As traders, it is essential to question our longs on oil and adopt a cautious approach while diversifying our portfolios, staying informed, and embracing innovation. By doing so, we can navigate the evolving energy landscape and seize opportunities that arise from this transformative period in the history of the global oil market.
TVC:USOILLong
by bryandowningqln
Palladium Outlook for the Next 3 MonthsSpot palladium is the physical form of palladium that is traded on the spot market. It is not a futures contract, and it is not subject to the same margin requirements as futures contracts. This makes spot palladium a more attractive option for investors who want to avoid the risks associated with futures contracts. The outlook for spot palladium in the next 3 months is uncertain. On the one hand, the global economy is expected to slow down in the second half of 2023, which could put downward pressure on palladium prices. On the other hand, there are a number of factors that could support palladium prices in the coming months. These include: Rising demand from the automotive industry: Palladium is a key component in catalytic converters, which are used to reduce emissions from vehicles. As the global economy grows and more vehicles are produced, demand for palladium is expected to increase. Supply constraints: The supply of palladium is relatively limited, and there are concerns that supply could be further constrained due to sanctions against Russia, a major producer of palladium. Inflation: Inflation is expected to remain elevated in the coming months, which could make palladium an attractive investment for investors seeking a hedge against inflation. Overall, the outlook for spot palladium in the next 3 months is uncertain. However, there are a number of factors that could support palladium prices in the coming months. Investors who are looking for a hedge against inflation or supply constraints may want to consider investing in spot palladium. How to Trade Spot Palladium There are a number of ways to trade spot palladium. One way is to buy and sell physical palladium bars or coins. This is the most direct way to invest in palladium, but it can also be the most expensive. Another way to trade spot palladium is to buy and sell futures contracts on the London Platinum and Palladium Market (LPPM). Futures contracts are a type of derivative that gives the buyer the right to purchase or sell a certain amount of palladium at a specified price on a specified date. Options contracts are another way to trade spot palladium. Options contracts give the buyer the right, but not the obligation, to purchase or sell a certain amount of palladium at a specified price on or before a specified date. How to Trade Spot Palladium Options There are two main types of spot palladium options contracts: call options and put options. Call options give the buyer the right to purchase a certain amount of palladium at a specified price on or before a specified date. Put options give the buyer the right to sell a certain amount of palladium at a specified price on or before a specified date. The price of a spot palladium option contract is determined by a number of factors, including the strike price, the expiration date, and the volatility of the underlying palladium price. The strike price is the price at which the buyer of the option can purchase or sell the palladium. The expiration date is the date on which the option contract expires. The volatility of the underlying palladium price is a measure of how much the price of palladium is expected to fluctuate over time. To trade spot palladium options, you will need to open an account with a brokerage firm that offers options trading. You will also need to deposit funds into your account. Once your account is funded, you can place orders to buy or sell spot palladium options contracts. Hedge Positions with Speculative Trading on the Stock Exchange Companies that use palladium in their production process can hedge against the risk of changes in palladium prices by trading on the stock exchange. For example, a company that uses palladium in its production process might buy shares of a company that mines palladium. This will help to protect the company from rising palladium prices, as the value of its shares will likely increase when palladium prices go up. Companies can also use options contracts to hedge against the risk of changes in palladium prices. For example, a company that uses palladium in its production process might buy put options on spot palladium. This will give the company the right to sell palladium at a specified price, even if the market price of palladium falls. This will help to protect the company from losses if palladium prices fall. Speculative trading on the stock exchange can be a risky proposition, but it can also be a way for companies to profit from changes in palladium prices. However, it is important to remember that speculative trading is not a guaranteed way to make money. Companies should carefully consider the risks and rewards before engaging in speculative trading. Risk Warning Trading stocks and options is a risky activity and can result in losses. You should only trade if you understand the risks involved and are comfortable with the potential for losses. Rating: Mixed Outlook Risk Disclaimer! The article and the data is for general information use only, not advice! The Trade Academy R&D Team Risk Disclaimer! General Risk Warning: Trading on the Financial Markets, Stock Exchange and all its asset derivatives is highly speculative and may not be suitable for all investors. Only invest with money you can afford to lose and ensure that you fully understand the risks involved. It is important that you understand how Trading and Investing on the stock exchange works and that you consider whether you can afford the high risk of loss.
NYMEX:PA1!Long
by TheTrade_Academ
ETH/USDT 1D Review Chart 18.08I invite you to review the chart of ETH in pair to USDT, also on a one-day interval. First of all, using the yellow line, we can mark the uptrend line, from which the price went down. 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, first we have the support zone from $ 1610 to $ 1479, which at the moment held the price, the second very strong support at the price of $ 1298, and then we can see a drop to around the support level $1061. Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here as the first resistance we will mark the zone from $1743 to $1819, then we have the second zone from $1899 to $2009, and then a very strong resistance at $2146. The CHOP index indicates that the energy has been used. On the RSI we crossed the lower limit which also indicates the use of energy, while the STOCH indicator rebounded and the energy was used to rebound the price after the decline.
by cryptodailyuk
LTC/USDT 1D ReviewHello everyone, I invite you to review the LTC chart in pair to USDT on a one-day timeframe. We will start by marking with the blue lines the uptrend channel in which the price is moving, and locally we can mark the yellow downtrend line. Using the Fib Retracement tool, we can check where the price should have support. And here we can see that the price is in front of the support at $86.63, then we have a second support at $77.80 and then a third very strong support at $68.97. Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the price is currently facing strong resistance at $98.41 equal to 0.618 Fib, the so-called fibon gold point. We continue to have strong resistance at $114.13, once the price breaks it, it will move towards resistance at $134.29. The CHOP index indicates that there is still energy to continue the movement. On the RSI we have a visible rebound, we can see that there is room for the price to go lower, however, taking into account the STOCH indicator, which indicates that the energy is exhausted, we can see an attempt to increase the price.
by cryptodailyuk
ETC/UST 1D ReviewHello everyone, I invite you to review the ETC chart on the one-day interval. As we can see, the price did not manage to stay on the downtrend line and was quickly reversed. After unfolding the Fib Retracement grid, we see that the price is holding just below the support at $19.19, the next support is at $16.69, then the third support at $14.84, and when we go lower we have a fourth very strong support at priced at $12.57. Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the first significant resistance is at $21.67 with the downtrend line, then resistance at $24.15 and then the price will move to resistance at $27.26. At this point, it is worth including the EMA Cross 200, which indicates that the ETC attempted to return to a strong uptrend, but it was a false break and a quick return. The CHOP index indicates that there is a lot of energy for the upcoming move, the MACD indicates the continuation of the downward trend, while the RSI has approached the middle of the range, so the move will be based on BTC price jumps.
by cryptodailyuk
XRP/USDT Review 1DayInterval Hello everyone, I invite you to review the BNB chart on a one-day timeframe. As we can see after defining the uptrend line, the price has fallen slightly below, but remains close to this line. Let's start by marking the support areas for the price and we see that first we have a support zone from $0.45 to $0.42, which is holding the price so far, but if the zone is broken, the next support is at $0.39. Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the price is currently bouncing off the $0.48 resistance. Then we can mark a resistance zone from $0.51 to $0.52, and a second very strong zone from $0.54 to $0.57. The CHOP index indicates that a lot of energy has been collected, the MACD is struggling to return to the uptrend, while the RSI has a further rebound, which may positively affect the change of the price direction to an upward one.
by cryptodailyuk
BTC/USDT Long-Term 1DInterval ReviewHello everyone, I invite you to check the current situation on BTC in pair to USDT, taking into account the one-day interval. First, we will use the blue lines to mark the downtrend channel from which the price has gone up, while locally it is worth marking the sideways trend channel in which the BTC price is moving. We will use the trend based fib extension tool to determine the supports, as we can see now the first support at $30049 held the price, however when it goes lower the next support is at $29180, then the third support at $28402 and then it is worth marking a very strong zone support from $27678 to $26628. Looking the other way, we can determine the places of resistance in a similar way. And here the first resistance at fibon's golden point is at $31855, before which the price turns back, however when it manages to break it, the second resistance is at $33809 and then the third resistance at $36250. When we turn on the ema cross 10 and 30, we can see that it indicates a continuation in the ongoing uptrend. The CHOP index indicates that there is a lot of energy to be used, the MACD indicator indicates a downtrend, and we can see a rebound on the RSI, but we are still in the upper part of the range, which may give the price a rebound.
by cryptodailyuk
ETH/USDT Long-Term Review 1DIntervalHello everyone, I invite you to review the chart of ETH in pair to USDT, taking into account the one-day interval. Using the yellow line, we will mark the uptrend line, which, as we can see, holds the price nicely in corrections. Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark support, and here in the first place it is worth marking the support zone from $ 1845 to $ 1662, however, when the price drops below, we can see a return to a very strong support zone from $ 1363 to $ 1150. 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 $2237, before which the price once again turned back, the next resistance is at the price of $2552, and then the third resistance at the price of $3007. When we turn on the EMA Cross 50 and 200, we can see the place of transition into a strong uptrend and how far the price stays in this trend. The CHOP index indicates that we have a lot of energy to use. The MACD indicator is in an uptrend. On the other hand, we have a rebound on the RSI, however, looking at the fact that we are in the upper part of the range, the price may go down to a lower level.
by cryptodailyuk
Price Waiting for News Releases | Tech/Fundamental Analysis Traders, today we have those news releases for Wed, 28 Jun 2023.. Buyside liquidity then sellside liquidity.. Use these news as your trigger and most importantly, confirm your entry.. This view is linked to my previous view, please review it.. Price may reprice higher than H2 FVG and into my "sell area" marked in my previous idea.. Those are areas of "possible" reversal points, and entry should be confirmed in the proper time.. I'll keep you updated ✅
Short
by MST_Trader
BTC 1D Interval ReviewWe will now move on to the BTC/USDT chart, also on a one-day timeframe. First of all, using the yellow line, we can mark the downtrend line from which the price went up, then, using the blue lines, we can mark the uptrend channel in which the price is currently moving. Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark support, but here we will use support zones and we have the first zone in the range of $ 27725 to $ 25381, then there is a second strong zone from $ 23388 to $ 21513, while if the price fell lower we have a third very strong support zone from $18,934 to $15,418. 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 $ 31769, which so far has not been strong enough to overcome, the next resistance is at the price of $ 35578, and then the third resistance at the price of $ 41028. When we turn on the EMA Cross 200, we can see that it kept the price nicely in the uptrend. The CHOP index indicates that the energy has been used. The MACD indicator is in a strong uptrend. On the other hand, on the RSI we see a breakout of the upper limit and we currently have a slight rebound, but I expect a stronger rebound or a sideways trend with small price slides.
by cryptodailyuk
BTC.D Review 1DayIntervalHello everyone, I invite you to review the situation of BTC Dominance over the rest of the cryptocurrency market. At the beginning, we will use the blue lines to mark the downtrend channel, which after several attempts was able to exit upwards. Now, using the trend based fib extension tool, we can determine the places where dominance should encounter resistance. And here we see that we are facing a very strong resistance at 53.99%, but when it is overcome we can see a rapid increase to around 63.33%, which will give BTC a significant advantage over the rest of the market. Now we can move on to marking the places of support in the event of a correction. And here, in the first place, it is worth marking the support zone from 48.19% to $ 47.04, but when we fall below this zone, we can see a decrease to around 45.92%, and then to the second support zone from 44.27% by 42 .17%. Please pay attention to the CHOP index which indicates that most of the energy has been used, the MACD indicator confirms a strong uptrend, while on the RSI we crossed the upper limits of the range, which should give a moment of recovery or at least a temporary sideways trend with small pullbacks.
CRYPTOCAP:BTC.D
by cryptodailyuk
Paramount Communications- Fundamental➢ Paramount Communications Ltd is engaged in manufacturing of Wires& Cables comprising of power cables, telecom cables, railway cables and specialised cables ➢ Completely in cable manufacturing with good capex investments &3 factories across India. ➢ Product line consists of a complete range ➢ Power: LT & HT Power Cables, LT & HT Aerial Bunch Cables, Control Cables, Instrumentation Cables. ➢ Telecom: Optical Fiber Cable (OFC) & FTTH Jelly Filled Cables, CATV ➢ Railways: Signalling Cables, Railway Power Axle Counter Cables. ➢ Special Products: PTFE & Thermocouple Cables, Quad Cables Fire Survival Cables, Solar Cables. ➢ EPC Services: Telecom Consultancy & EPC, Power & Railway EPC Turnkey Projects, Specialized Projects OPGW. ➢ What is the price to be invested Current Market Price -36.60 Investment Price -35-40. Investment value should not exceed 20,000/- Stoploss Exit Price – 21 Target – 126 ➢ Before investing please understand the risk involved and consult your financial advisor.
NSE:PARACABLESLong
by Microcap_Investor
MATIC 1D Interval ReviewThe last one in today's chart is the MATIC chart in pair to USDT, on a one-day interval. First, we will use the blue lines to mark the downtrend channel where the price is moving in the upper range. Moving on, we can move on to marking support areas when the price returns to a correction. And here the first very strong support that has kept the price so far is at $ 0.58, but if we fall lower, the next support is at $ 0.31. Looking the other way, we see that the price has to face the $0.76 resistance, only when it breaks it will move towards the $0.91 resistance and then towards the very strong $1.04 to $1,16 resistance zone. Please look at the CHOP index, which indicates that we have more and more energy, the MACD indicates a downtrend, while the RSI shows that a small price increase gives a strong movement on the indicator, which can quickly limit the room for further increases, in the coming hours we can see further growth.
M
by cryptodailyuk
USDJPY I Potential break of 1 hour trend line SHORTWelcome back! Let me know your thoughts in the comments! ** USDJPY Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
12
ETH/USDT 1D Interval ReviewHello everyone, I invite you to a review of ETH in pair to USDT, also on a one-day interval. First of all, with the help of blue lines, we can mark the downtrend channel from which the price breaks upwards, in the longer term, we can see that the price stayed above the uptrend line, from which it has already rebounded for the second time. Now let's move on to marking the places of support. We will use the trend based fib extension tool to mark the supports, and here we first have a support zone from $1780 to $1707, while when this zone does not hold the price we have a second support from $1644 to $1581, and then a strong support at $1495 . 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 significant resistance at $1921, the next resistance is at $2010 and then the third very strong resistance at $2100. As we can see, as in the case of BTC, the ETH price rebounded around the EMA Cross 200, The CHOP index indicates that most of the energy has been used. The MACD indicator indicates a return to an uptrend. On the other hand, the RSI shows a definite increase, but there is still some room left for the price to grow more.
by cryptodailyuk