Hello everyone, let's look at the DOT to USDT chart on a 4-hour timeframe. As you can see, the price has decisively broken the local downtrend line.
Let's start with the support line and as you can see the first support in the near future is $6.36, if the support is broken then the next support is $6.25, $6.16 and $6.06.
Now let's move to the resistance line, as you can see the first resistance is $6.59, if you manage to break it, the next resistance will be $6.71, $6.80 and $6.90.
Looking at the CHOP indicator, we see that the energy is being consumed, the MACD indicates a local uptrend, while the RSI indicator has touched the upper limit and we immediately see a price correction.
Let's start with the support line and as you can see the first support in the near future is $6.36, if the support is broken then the next support is $6.25, $6.16 and $6.06.
Now let's move to the resistance line, as you can see the first resistance is $6.59, if you manage to break it, the next resistance will be $6.71, $6.80 and $6.90.
Looking at the CHOP indicator, we see that the energy is being consumed, the MACD indicates a local uptrend, while the RSI indicator has touched the upper limit and we immediately see a price correction.