I invite you to review the chart of DOT in pair with USDT, on a one-day time frame. First, we will use the blue lines to mark the downward trend channel where the price remains.
Going further, we can move on to marking support areas when we start a larger correction. For this purpose, we will spread the trend based fib extension grid, and we can see a strong support zone from $3.91 to $3.48, as you can see, the price has returned to the levels from which it started in the previous bull market. However, if we fall lower, we may see a drop to the support level of $2.86.
Looking the other way, we see that the first significant resistance is the resistance zone from $4.53 to $4.80, then there is resistance at $5.13, and another strong resistance at $6.
Please look at the CHOP index, which indicates that the energy is running out, the RSI indicator shows that we are still moving near the lower limit, which gives room for increases, and the STOCH indicator is also above the lower limit, which may be an impulse for an upward movement.
Going further, we can move on to marking support areas when we start a larger correction. For this purpose, we will spread the trend based fib extension grid, and we can see a strong support zone from $3.91 to $3.48, as you can see, the price has returned to the levels from which it started in the previous bull market. However, if we fall lower, we may see a drop to the support level of $2.86.
Looking the other way, we see that the first significant resistance is the resistance zone from $4.53 to $4.80, then there is resistance at $5.13, and another strong resistance at $6.
Please look at the CHOP index, which indicates that the energy is running out, the RSI indicator shows that we are still moving near the lower limit, which gives room for increases, and the STOCH indicator is also above the lower limit, which may be an impulse for an upward movement.