ETH/USDT 4HInterval Chart
Hello everyone, I invite you to review the ETH pair to USDT chart, also on a four-hour time frame. First, we can use the blue lines to mark the downward trend channel in which the price moves at the upper limit.
Now let's move on to marking the support places. We will use the Fib Retracement tools to mark the supports, and as you can see, the first support is at $2,185, the second support is at $2,134, and then there is a support zone from $2,098 to $2,052.
Looking the other way, we can similarly mark places where the price should encounter resistance on the way up. And here we have visible resistance at the level of $2272, at the upper border of the channel, then we can mark the zone from $2335 to $2367, and then resistance at the level of $2460.
On the RSI indicator we are moving around the middle of the range, but when we look at the STOCH indicator, we will see that once again approaching the upper limit resulted in a price recovery.
Now let's move on to marking the support places. We will use the Fib Retracement tools to mark the supports, and as you can see, the first support is at $2,185, the second support is at $2,134, and then there is a support zone from $2,098 to $2,052.
Looking the other way, we can similarly mark places where the price should encounter resistance on the way up. And here we have visible resistance at the level of $2272, at the upper border of the channel, then we can mark the zone from $2335 to $2367, and then resistance at the level of $2460.
On the RSI indicator we are moving around the middle of the range, but when we look at the STOCH indicator, we will see that once again approaching the upper limit resulted in a price recovery.
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