ETH/USDT 4H CHART REVIEW

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🔍 Overall market structure
• Ethereum is moving in a descending triangle/converging channel (yellow trend lines).
• The upper trend line acts as strong resistance (~$4,000-$4,150).
• The lower trend line (rising) provides key support around ~$3,730-$3,750.



📊 Key levels

Resistances:
• $3,875 – local resistance, where the price rebounded several times.
• $3,990 – another resistance resulting from the yellow trend line.
• $4,143 – main resistance in the breakout zone of the formation (potential target after breaking the downtrend).

Support:
• $3,808 – short-term support.
• $3,733 – important level within the formation (lower yellow trendline).
• $3,637 – strong support that should not be broken while maintaining bullish sentiment.



📈 Indicators

MACD:
• MACD and signal lines are close to each other - no clear momentum.
• Histogram decreases → possible short-term weakness or consolidation.

RSI:
• RSI indicator around 45–50 → neutral, with no clear advantage of buyers or sellers.
• No divergence, but potential for a rebound if RSI drops to ~40 and rebounds.

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