Hello everyone, I invite you to review the DOT chart in pair to USDT, on a one-day timeframe. As we can see, the price is currently based on the downtrend line.
Going further, we can move on to marking support areas in a situation where the current correction is deepened. And here, the first support is at $6.02, then we have the support zone from $5.68 to $5.33, the next support is at $4.84, and then at $4.21, where the last low is.
Looking the other way, we see that the price must first overcome the strong resistance from $6.96 to $7.59, which has not been broken so far. Only when the price breaks through this zone will it be able to move towards $8.49 and then $9.66.
Please look at the CHOP index, which despite the correction indicates that there is a lot of energy, the MACD indicates a downward trend, while the RSI shows a further rebound, but there is still room for a larger price drop.
Going further, we can move on to marking support areas in a situation where the current correction is deepened. And here, the first support is at $6.02, then we have the support zone from $5.68 to $5.33, the next support is at $4.84, and then at $4.21, where the last low is.
Looking the other way, we see that the price must first overcome the strong resistance from $6.96 to $7.59, which has not been broken so far. Only when the price breaks through this zone will it be able to move towards $8.49 and then $9.66.
Please look at the CHOP index, which despite the correction indicates that there is a lot of energy, the MACD indicates a downward trend, while the RSI shows a further rebound, but there is still room for a larger price drop.