ETH/USDT 4H Review

Hello everyone, let's look at the ETH to USDT chart on the 4-hour timeframe. As you can see, the price is holding above the local downtrend line.

Once we unfold the Fib Retracement grid, we can mark the support zone from $1827 to $1780 that the price is based on, then we have strong support at $1712 and then at $1623.

Looking the other way, we will mark the resistances in the same way and here we first have a resistance zone from $1883 to $1945, then resistance at the price of 2033, and another resistance at the price of $2146.

The CHOP index indicates that there is a lot of energy, the RSI shows that downward movements have more power than upward movements, and the STOCH indicator indicates that the energy is quickly exhausted.