ETH fighting against strong resistance
Hello everyone, let's take a look at the ETH to USDT chart on a one-day time frame. As you can see, the price is currently bouncing off the downtrend line.
Let's start by determining the support line and as you can see, the first support in the near future is $3,530, then you can see support at $3,250, and then we have a strong support zone from $3,046 to $2,796
Now let's move on to determining the resistance points. And here we must start by identifying a very strong resistance zone from $3,821 to $4,110, only when we manage to break out and positively test this zone, we can see a move towards the resistance at $4,917.
Looking at the EMA Cross 50 and 200 indicator, they still indicate that the strong upward trend is maintained.
There is still room for growth on the RSI indicator, while the STOCH indicator shows a move towards the upper limit, so you should be careful and take into account a possible recovery.
Let's start by determining the support line and as you can see, the first support in the near future is $3,530, then you can see support at $3,250, and then we have a strong support zone from $3,046 to $2,796
Now let's move on to determining the resistance points. And here we must start by identifying a very strong resistance zone from $3,821 to $4,110, only when we manage to break out and positively test this zone, we can see a move towards the resistance at $4,917.
Looking at the EMA Cross 50 and 200 indicator, they still indicate that the strong upward trend is maintained.
There is still room for growth on the RSI indicator, while the STOCH indicator shows a move towards the upper limit, so you should be careful and take into account a possible recovery.
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