Hello everyone, let’s look at the ETH to USDT chart on a single day time frame. As you can see, the price is moving below the uptrend line.
Let’s start with setting the support line and as you can see the first support which, as you can see, held the price is $ 1737, if the support is broken then the next support is $ 1658, and then $ 1436.
Now let’s move to the resistance line, as you can see the first resistance is $ 1918, if you manage to break it, the next resistance will be $ 2034 and $ 2123.
Looking at the CHOP indicator, we see that there is still some energy left for a further move, the MACD remains in a downtrend, while the RSI shows an entry into the lower part of the range, but there is still room for the price to go lower.
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- Source: https://www.tradingview.com/chart/ETHUSDT/9F6TFzX9-Daily-ETH-4HChart-resistance-and-support/
