ETH / USDT 4HChart - Resistance And Support
Hello everyone, let's look at the ETH to USDT chart on the four hour timeframe. As you can see, the price is moving in a triangle marked with yellow lines, which means we are close to leaving this triangle.
Let's start with the support line and as you can see, we first have a strong support zone from $1175 to $1133, if the support is broken then the next support is around $1075.
Now let's move on to the resistance that the price has to fight when it starts to rise, as you can see the first resistance is the $1277 to $1350 zone, if it breaks out the next resistance will be $1474.
Looking at the CHOP indicator, we see that in the four-hour interval, the energy is used, the MACD indicator indicates that we have entered a local downtrend, and looking at the volume, there is little interest and that the last 4 hours were dominated by sellers.
It is worth bearing in mind the information about the hacker who, after stealing ETH from the FTX exchange accounts, slowly began selling the stolen funds.
Let's start with the support line and as you can see, we first have a strong support zone from $1175 to $1133, if the support is broken then the next support is around $1075.
Now let's move on to the resistance that the price has to fight when it starts to rise, as you can see the first resistance is the $1277 to $1350 zone, if it breaks out the next resistance will be $1474.
Looking at the CHOP indicator, we see that in the four-hour interval, the energy is used, the MACD indicator indicates that we have entered a local downtrend, and looking at the volume, there is little interest and that the last 4 hours were dominated by sellers.
It is worth bearing in mind the information about the hacker who, after stealing ETH from the FTX exchange accounts, slowly began selling the stolen funds.