Hello everyone, let's take a look at the ETH to USDT chart on a one hour time frame. As you can see, the price is moving above the local uptrend line.
When we unfold the Trend Based Fib Extension grid, we see a support zone from $1,876 to $1,865, then we have a second zone from $1,836 to $1,816, and then support at $1,756.
Looking the other way, you can see the current resistance which has decreased the price at $1913, and then we have a resistance zone from $1941 to $1962.
Looking at the CHOP indicator, we see that there is energy for a move, on the RSI indicator we are in the upper part of the range, which gives room for declines, and on the STOCH indicator, the rebound again also creates room for the price to react.
When we unfold the Trend Based Fib Extension grid, we see a support zone from $1,876 to $1,865, then we have a second zone from $1,836 to $1,816, and then support at $1,756.
Looking the other way, you can see the current resistance which has decreased the price at $1913, and then we have a resistance zone from $1941 to $1962.
Looking at the CHOP indicator, we see that there is energy for a move, on the RSI indicator we are in the upper part of the range, which gives room for declines, and on the STOCH indicator, the rebound again also creates room for the price to react.