DOT/USDT 1HInterval Resistance and Support
Hello everyone, let's look at the DOT to USDT chart on a 1-hour time frame. As you can see, the price is close to breaking the local downtrend line.
Let's start with determining the support line and as you can see, it is worth marking the support zone from $5.94 to $5.90 in the first place, if the support is broken then the next support is $5.86 and $5.80.
Now let's move to the resistance line, and here we will also mark the resistance zone from $6.02 to $6.07, when the price breaks this zone it will be able to attack the $6.20 level.
Looking at the CHOP indicator, we see that there is a lot of energy to continue the move, the MACD indicates a local uptrend, while the RSI has a large increase, but there is some room for the continuation of the move.
Let's start with determining the support line and as you can see, it is worth marking the support zone from $5.94 to $5.90 in the first place, if the support is broken then the next support is $5.86 and $5.80.
Now let's move to the resistance line, and here we will also mark the resistance zone from $6.02 to $6.07, when the price breaks this zone it will be able to attack the $6.20 level.
Looking at the CHOP indicator, we see that there is a lot of energy to continue the move, the MACD indicates a local uptrend, while the RSI has a large increase, but there is some room for the continuation of the move.
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