ETH/USDT 4H Chart
I invite you to review the chart of ETH in pair with USDT, also on a four-hour time frame. You can see here a similar movement behavior as in the BTC chart, it can also be defined with blue lines, a local channel of an upward trend, in which the price remains for now.
Going further, it is worth spreading the fib retracement grid to determine price supports. And as you can see, the first support at $2,472 maintains the current declines, we will further define the support zone from $2,319 to $2,209, and when the price breaks out of this zone it may go down to $2,071
Looking the other way, you can see that the resistance level at $2,553 stops the price from making larger moves, but if we come out on top, it is still worth marking the resistance zone from $2,664 to $2,720, which stops the price from moving towards $2,900.
In this situation, it is worth looking at the EMA Cross 10 and 30 indicator, because you can see how the red EMA Cross 10 line is approaching the intersection of the green EMA Cross 30 from above, which could give a local downward impulse.
On the RSI indicator, we reached the middle of the range, with room for further movements, while the STOCH indicator rebounded dynamically, but this may indicate a temporary local movement of the side trend.
Going further, it is worth spreading the fib retracement grid to determine price supports. And as you can see, the first support at $2,472 maintains the current declines, we will further define the support zone from $2,319 to $2,209, and when the price breaks out of this zone it may go down to $2,071
Looking the other way, you can see that the resistance level at $2,553 stops the price from making larger moves, but if we come out on top, it is still worth marking the resistance zone from $2,664 to $2,720, which stops the price from moving towards $2,900.
In this situation, it is worth looking at the EMA Cross 10 and 30 indicator, because you can see how the red EMA Cross 10 line is approaching the intersection of the green EMA Cross 30 from above, which could give a local downward impulse.
On the RSI indicator, we reached the middle of the range, with room for further movements, while the STOCH indicator rebounded dynamically, but this may indicate a temporary local movement of the side trend.
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