ETH/USDT 1HInterval Chart Review
I invite you to review the chart of ETH in pair with USDT, on a one-hour interval. First of all, using the yellow line, we will determine the downward trend from which the price came out on top, and locally, after the declines, it has created an upward trend channel, in which it is fighting to come out on top again.
Now let's move on to marking resistance spots by looking at the current rally. And here, when we spread the trend based fib extension grid, we can see the price
it is again fighting against the resistance at $2,341, there is still resistance at $2,378, which rejected the increase last time, but if the price comes out on top, it will move towards the strong resistance at $2,439.
Looking the other way, we can mark places and supports in the same way. For this purpose, we will unfold the net again in the other direction, thanks to which we will see a support zone from the level of $2,307 to the level of $2,280, but if the zone is broken, it may result in a decline to the next support level at $2,239.
Please look at the RSI indicator, we can determine the downward trend lines, which have some room left. However, on the STOCH indicator, similarly to the BTC chart, we are moving above the upper limit, which slows down the current growth and may also translate into a price recovery.
Now let's move on to marking resistance spots by looking at the current rally. And here, when we spread the trend based fib extension grid, we can see the price
it is again fighting against the resistance at $2,341, there is still resistance at $2,378, which rejected the increase last time, but if the price comes out on top, it will move towards the strong resistance at $2,439.
Looking the other way, we can mark places and supports in the same way. For this purpose, we will unfold the net again in the other direction, thanks to which we will see a support zone from the level of $2,307 to the level of $2,280, but if the zone is broken, it may result in a decline to the next support level at $2,239.
Please look at the RSI indicator, we can determine the downward trend lines, which have some room left. However, on the STOCH indicator, similarly to the BTC chart, we are moving above the upper limit, which slows down the current growth and may also translate into a price recovery.
כתב ויתור
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