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Supportandresitance

ETH/USDT 4H Interval ChartETH paired to USDT on a 4-hour time frame. As you can see, the price has broken out of the local downtrend line and is currently staying above the uptrend line. Let's start by determining the support line and as you can see, the first support is $2,250, the second support is at $2,182, and then there is a strong support zone from $2,133 to $2,072. Looking the other way, we can see resistance again at $2,292, and then we have a strong resistance zone from $2,353 to $2,430. When we look at the RSI indicator, we see a rebound with room for a larger decline, and a similar situation can be seen on the STOCH indicator.
by cryptodailyuk
MATIC/USDT 4HIntervalI invite you to review the chart of MATIC in pair with USDT. First, we will use the blue lines to mark the upward trend channel in which the price is fighting at the lower border. Let's move on to determining the support, and for this purpose we will unfold the trend based fib extension grid, thanks to which we can see a strong support at the level of $0.76, however, if the support is broken and the price leaves the current channel lower, it may result in a price drop close to the height of the channel, which could bring the price to a very strong support zone from $0.61 to $0.53. Looking the other way, we see that the level of $0.86 has effectively reduced the price, only when we go higher, the next resistance is at the level of $0.95, and then we have a visible strong resistance zone from $1.01 to $1.08. At this point, it is worth defining the local downtrend line, which confirms the $0.95 level, as an important resistance. It is worth looking at the RSI indicator, which shows a movement in the lower part of the range, which gives room for possible increases, and what is more, the situation looks similar on the STOCH indicator, but it is worth remembering that we are still in a downward trend and a lot depends on the behavior of the BTC price.
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by cryptodailyuk
Navigating Support and Resistance with Renko ChartsToday we continue our deep dive into support and resistance levels and explore how traders can effectively utilize Renko charts and Donchian channels to identify these price zones. Renko charts, known for their simplicity and ability to filter out market noise, provide a unique perspective on price movement. We'll discuss how Renko charts work and demonstrate their effectiveness in pinpointing support and resistance levels with the help of Donchian channels. Donchian channels are a popular technical analysis tool that maps out the highest highs and lowest lows over a given period. By combining the insights from Renko charts and Donchian channels, traders gain a comprehensive approach to detecting key support and resistance areas in any market condition. Whether you're a novice trader or an experienced professional, we hope this video aids anyone seeking to enhance their ability to define support and resistance for any asset.
Education
by LeafAlgo
1
ETH/USDT 1HInterval ChartHello everyone, I invite you to check the situation of ETH in pair with USDT, also on a one-hour interval. First, we can use the dark blue lines to mark the upward trend channel, from which we can see how the price came out from the bottom and created a local downward trend channel here. Now let's move on to marking the support places. We will use the Fib Retracement tool to mark supports, and as you can see, the first support is at the price of $2174, then there is a support zone from $2143 to $2101, which keeps the price from falling to the support level of $1981. Looking the other way, we can similarly mark places where the price should encounter resistance on the way up. And here we have the first very strong resistance at the price of $2,314, which is at the so-called golden point of 0.618 Fib, and then there is a very strong resistance zone from $2,371 to $2,446. When we turn on EMA Cross 50 and 200, we can see that they indicate the continuation of the local downtrend. Looking at the RSI indicator, there is still room for a price increase, but the potential is limited by the STOCH indicator, which clearly shows overheating, which resulted in a slight recovery and there is still room for the price to go lower.
by cryptodailyuk
1
BTC/USDT 1HInterval Chart ReviewHello everyone, I invite you to review the current situation on BTC in the USDT pair, taking into account the one-hour interval. We will start by defining the upward trend channel with the blue lines in which we are approaching the upper limit, and what is more, we can determine the local downward trend lines from which the price came out on top. Now we can move on to marking support areas in case the price starts to reverse. And here we can see that the support at the level of $43,388 effectively maintains the price, then we have a second support at the level of $42,171, and when the price goes lower, the support zone from $41,299 to $40,199 protects us from very large declines. Looking the other way, we can determine resistance locations in a similar way using the trend based fib extension tool. First, we will mark the significant resistance at the level of $44,887, with the golden fib point of 0.618, which the price is struggling to maintain. If the positive level is maintained, we may see an attempt to attack towards a very strong resistance zone from $45,557 to $46,411, which keeps the price from rising to around $48,000. Please pay attention to the RSI indicator, because despite the dynamic growth there is still room for an upward movement, the STOCH indicator shows a clear break above the upper limit, which resulted in a slight rebound, but it is worth being careful because the price may go lower.
by cryptodailyuk
Gold can make retest of resistance line and continue to declineHello traders, I want share with you my opinion about Gold. Observing the chart, we can see that the price a few days ago started to trades in an upward channel, where it first rebounded from the support line and made impulse up to the resistance line, breaking the support level, which coincided with the buyer zone. After this movement, Gold made a correction to the buyer zone, after which it continued to move up in the channel to the 2085 resistance level. When the price reached this level, it rebounded and made a strong downward impulse to support line, thereby exiting from the channel. After this movement, XAU started to rise near this line, and in a short time, it rose to the resistance level again and even made a fake breakout to the seller zone, after which the price rebounded down to the support line. Also recently, Gold broke this line, and at the moment it trades below. In my opinion, Gold can make a retest of the resistance line and then continue to decline to the support level. For this case, I set my target at the 1980 points, which coincided near with 1950 support level. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
2
BTC/USDT 4HInterval ChartHello everyone, let's take a look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price is fighting against the local downtrend line. However, when we unfold the fib retracement grid, we can see that the price is being rejected by a strong resistance zone from $44,770 to $45,957, which is keeping the price from moving towards $48,000. Looking the other way, there is support at $43,150, second at $42,079, and then a strong support zone from $41,340 to $40,360. On the RSI indicator, we are moving in the upper part of the range, while the STOCH indicator is in the upper part at the upper limit, which may translate into a price drop.
by cryptodailyuk
BNB/USDT 4HInterval Chart support and resistanceHello everyone, let's take a look at the BNB to USDT chart on a four-hour time frame. As you can see, the price is moving below the local downtrend line. After unfolding the trend based fib extension grid, you can see support at the level of $302, which has maintained the price, and then you can see the support zone from $295 to $286. Looking the other way, there is resistance at $313, followed by a strong resistance zone from $327 to $334. Looking at the RSI indicator, we can see a rebound with room for a larger decline, while the STOCH indicator shows a rebound from the lower limit, which is also confirmed by a slight price rebound on the chart.
by cryptodailyuk
Nearby supports and resistances for ETHNearby supports and resistances for ETH. As you can see, the price remains below the local downtrend line. After unfolding the Fib Retracement grid, you can see the current support at $2,207, but it is worth defining a strong support zone from $2,115 to $2,066. Looking the other way, you can see the resistance that dropped the price at $2,293, and then there is a strong resistance zone from $2,355 to $2,434. The RSI indicator is near the middle of the range below the downward trend line, while the STOCH indicator still has room to make a downward move.
by cryptodailyuk
1
BTC Short-Term Chart 1HSupports and resistances for BTC in pair with USDT taking into account the time frame of one hour. As you can see, the price returned above the local upward trend line. After unfolding the Fib Retracement grid, it can be seen that the price is struggling to maintain the resistance at $43,872, and still needs to overcome the strong resistance zone from $44,762 to $45,875. Looking the other way, you can see support at $42,927, then at $42,050, and then the support zone from $41,421 to $40,620. Looking at the RSI indicator, we can see a dynamic increase with room for further movement, while the STOCH indicator is reflecting from the upper limit, which may result in a price recovery.
by cryptodailyuk
ETC/USDT 4H ChartI invite you to review the ETC chart on a four-hour interval. We will start by defining, using the blue lines, the upward trend channel from which we tried to exit at the bottom. Locally, a yellow downward trend line has formed. Let's now move on to marking support areas for the price and here, after unfolding the trend based fib extension grid, we can see that the price with dynamic movements returned to the support zone from $20.56 to $19.52, while leaving the zone at the bottom may result in a strong decline even to the vicinity $16.50. Looking the other way, we can similarly determine the resistance areas that the price must face. And here we can see the $20.76 level again as resistance, after which we can see increases towards the strong resistance zone from $23.12 to $24.38 just at the upper border of the previously mentioned channel. Looking at the RSI indicator, we can see that we have approached the lower limit, which could have slowed down the decline, but there is still room for recovery, while the STOCH indicator shows a quick rebound from the lower limit, which gives us energy for another price drop.
by cryptodailyuk
ETH/USDT 4HInterval ChartHello everyone, I invite you to review the chart of ETH in pair with USDT, on a four-hour interval. First of all, we can use the blue lines to mark the upward trend channel from which we could observe a breakout at the bottom, after which the price struggles to maintain the level. Now let's move on to marking the support places. We will use the Fib Retracement tool to mark the supports, and as you can see, the price has dynamically returned and remains in the support zone from $2,243 to $2,191, then there is support which stopped the price drop around $2,120, but if the price breaks out of it, we can see a return in around strong support at $1918. Looking the other way, we can similarly mark places where the price should encounter resistance on the way up. And here again the resistance level is $2,302, then there is a strong resistance zone from $2,365 to $2,445, which stops the move to around $2,674. When we turn on EMA Cross 10 and 30, we can see confirmation of a potential downward trend. The RSI indicator shows a strong recovery, a return to the place where the price rebounded previously, but with room for the price to go lower, while the STOCH indicator also shows a strong recovery with visible room for another decline.
by cryptodailyuk
BTC Long-Term Hello everyone, I invite you to check the long-term view of the situation of BTC in pair with USDT. For this purpose, we will start by defining the main downward trend line using the yellow line, from which the price, after going up, began to create the current upward trend channel marked in blue. Going further, using the Fib Retracement grid, which should be spread from the last price peak to the bottom, we will determine a very strong resistance at $48,634 at 0.618 Fib, the so-called golden Fibon point, at which the price had a pre-halving correction in previous cycles. Further, taking into account the latest local movement, we will spread the trend based fib extension grid, thanks to which we can expand the resistance to the resistance zone from $46,729 to $48,634. This is a zone with very strong resistance on the way to the new ATH. Looking the other way, you should determine the support points when the price starts to recover, similarly here, from the price bottom, we will spread the Fib Retracement grid and determine the support at the level of $34,566, and the second one at the level of $27,297. At this point, taking into account the recent increase, we will again unfold the fib retracement grid, thanks to which we can see additional support at the level of $37,990, and the support lower can be extended to the support zone from $34,566 to $33,092. Please look at the RSI indicator, which shows that there is a lot of room for further price recovery, and if we look at the STOCH indicator, it also shows room for recovery.
by cryptodailyuk