DOT/USDT 1DInterval Chart Review

I invite you to review the DOT chart, taking into account the interval of one day. We will start by identifying the downward trend line from which the price came out on top and created a local uptrend channel, in which it is currently struggling to stay inside the channel.

Further, after unfolding the trend based fib extension grid, you can see the first significant support at the level of $6.79, then the second support at the level of $5.93, and then the third very strong one at the price of $5.31.

Looking the other way, we can similarly determine the resistance areas that the price must face. And here we see that currently the price has been rejected by the resistance at the level of $8.05, it still has to face the resistance zone from $8.95 to $9.40 so that it can grow further towards the level of $10.74.

Please look at the RSI indicator, because, like the STOCH indicator, there is a visible recovery and both indicators show room for a deeper correction.


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