What next for ETH?
Hello everyone, I invite you to review the ETH/USDT chart on a 1-day interval, as you can see, the price has been moving in the downtrend channel for a long time.
It is important that we are currently in the support zone which lasts from $1325 to $1129. If the price does not stay in this zone, we can see a drop even to around $883.
However, if the market reverses the course of the movement and new increases begin, first we will have to positively test the current support zone, then we can go towards the zone from $ 1553 to $ 1661, only overcoming this resistance will open the way towards $ 1827 and $ 2030.
What's more, with the help of the Trend Based Fib Retracement tool, we can mark two smaller support points for the price when the price continues to go down, and here we have support at $ 1021 and $ 964.
Now take a look at the CHOP index, where we see a lot of energy, MACD indicates that we are on the verge of entering a downtrend, while the RSI shows room for a larger price correction.
It is important that we are currently in the support zone which lasts from $1325 to $1129. If the price does not stay in this zone, we can see a drop even to around $883.
However, if the market reverses the course of the movement and new increases begin, first we will have to positively test the current support zone, then we can go towards the zone from $ 1553 to $ 1661, only overcoming this resistance will open the way towards $ 1827 and $ 2030.
What's more, with the help of the Trend Based Fib Retracement tool, we can mark two smaller support points for the price when the price continues to go down, and here we have support at $ 1021 and $ 964.
Now take a look at the CHOP index, where we see a lot of energy, MACD indicates that we are on the verge of entering a downtrend, while the RSI shows room for a larger price correction.
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