DOT / USDT 4H CHART - Resistance and Support!
Hello, I invite you to review the DOT chart in pair to USDT, on a four-hour interval. First of all, we will use the blue lines to mark the uptrend channel from which the price has gone down, while the yellow lines will mark the downtrend channel in which we are currently moving.
Going further, we can move on to marking support areas in a situation where the correction is deepened. And here the first support is at $5.91, but when we go lower, the next support is at $5.56.
Looking the other way, we see that we first have an important resistance zone from $6.21 to $6.38, only when we break through it will the next resistance be at $6.52 and then $6.66.
Please look at the CHOP index, which indicates that the energy collected is being used to correct the price, the MACD indicates that we have entered a downtrend, while the RSI has touched the lower end of the range.
Going further, we can move on to marking support areas in a situation where the correction is deepened. And here the first support is at $5.91, but when we go lower, the next support is at $5.56.
Looking the other way, we see that we first have an important resistance zone from $6.21 to $6.38, only when we break through it will the next resistance be at $6.52 and then $6.66.
Please look at the CHOP index, which indicates that the energy collected is being used to correct the price, the MACD indicates that we have entered a downtrend, while the RSI has touched the lower end of the range.
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