Hello everyone, let's look at the ETH to USDT chart on the four hour timeframe. As you can see, the price is moving above the local uptrend line.
Let's start with the support line and as you can see the first support in the near future is $1612, if the support is broken then the next support is $1590, $1569 and $1539.
Now let's move to the resistance line, as you can see the first resistance is $1628, if you manage to break it, the next resistance will be $1653, $1675 and $1696.
Looking at the CHOP indicator, we see that there is a lot of energy for the next move in the four-hour interval, the MACD indicates a local downtrend, while the RSI also shows a rebound.
Let's start with the support line and as you can see the first support in the near future is $1612, if the support is broken then the next support is $1590, $1569 and $1539.
Now let's move to the resistance line, as you can see the first resistance is $1628, if you manage to break it, the next resistance will be $1653, $1675 and $1696.
Looking at the CHOP indicator, we see that there is a lot of energy for the next move in the four-hour interval, the MACD indicates a local downtrend, while the RSI also shows a rebound.