Hello everyone, let's take a look at the ETH to USDT 1 day chart. As you can see, the price is moving below the downtrend line.
Let's start with determining the support line and as you can see the support that should be taken into account is the support zone from $ 1856 to $ 1694 in which the price is currently located.
Now let's move from the resistance line as you can see the first resistance is $ 2,153, if you can break it the next resistance will be $ 2,426 and $ 2,649.
Looking at the CHOP indicator, we can see that on the 1-day interval we have a lot of energy to make a move, while the MACD indicator shows an upward trend.
Let's start with determining the support line and as you can see the support that should be taken into account is the support zone from $ 1856 to $ 1694 in which the price is currently located.
Now let's move from the resistance line as you can see the first resistance is $ 2,153, if you can break it the next resistance will be $ 2,426 and $ 2,649.
Looking at the CHOP indicator, we can see that on the 1-day interval we have a lot of energy to make a move, while the MACD indicator shows an upward trend.