Hello everyone, I invite you to review the DOT chart in pair to USDT, on a one-day interval. First, we will use the blue lines to mark the downtrend channel in which the price is currently moving.
At this point, it is worth including EMA Cross 10 and 30, which indicate the place of transition into a downtrend in which the price is still maintained.
Moving on, we can move on to marking support areas when we start a larger correction. And here the first support is at the price of $4.24, where the price remains, while further we have a strong support zone from $4.06 to $3.88.
Looking the other way, we see that the price needs to break through the resistance zone from $4.49 to $4.72, then we have a second visible zone from $4.90 to $5.09, then resistance at $5.35, and another resistance at $5.68.
On the CHOP index, we see that most of the energy is used, on the RSI we are moving at the lower end of the range, while the STOCH indicator is also moving at the lower end, which may indicate an imminent change in price direction.
At this point, it is worth including EMA Cross 10 and 30, which indicate the place of transition into a downtrend in which the price is still maintained.
Moving on, we can move on to marking support areas when we start a larger correction. And here the first support is at the price of $4.24, where the price remains, while further we have a strong support zone from $4.06 to $3.88.
Looking the other way, we see that the price needs to break through the resistance zone from $4.49 to $4.72, then we have a second visible zone from $4.90 to $5.09, then resistance at $5.35, and another resistance at $5.68.
On the CHOP index, we see that most of the energy is used, on the RSI we are moving at the lower end of the range, while the STOCH indicator is also moving at the lower end, which may indicate an imminent change in price direction.