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 has definitely broken the local downtrend line.
Let's start with setting the support line and as you can see the first support in the near future is $1806 at which the price currently stopped, if the support is broken then the next support is $1788, $1774 and $1759.
Now let's move to the resistance line, as you can see the first resistance is $1834, if you manage to break it, the next resistance will be $1852, $1866 and $1880.
Looking at the CHOP indicator, we see that we have a lot of energy to move further, the MACD is close to entering the local uptrend, while the RSI is moving at the upper part of the range, which may slow down the growth.
Let's start with setting the support line and as you can see the first support in the near future is $1806 at which the price currently stopped, if the support is broken then the next support is $1788, $1774 and $1759.
Now let's move to the resistance line, as you can see the first resistance is $1834, if you manage to break it, the next resistance will be $1852, $1866 and $1880.
Looking at the CHOP indicator, we see that we have a lot of energy to move further, the MACD is close to entering the local uptrend, while the RSI is moving at the upper part of the range, which may slow down the growth.