Hello everyone, let's look at the DOT to USDT chart on a 4-hour time frame. As you can see, the price is moving below the local downtrend line.
Let's start with the support line and as you can see the first support in the near future is $5.28, if the support is broken then the next support is $5.17 and $5.03.
Now let's move to the resistance line, as you can see the first resistance is $5.38, if you manage to break it, the next resistance will be $5.46, $5.52 and $5.59.
Looking at the CHOP indicator, we see that the energy is gathering strength, the MACD indicates that the price is about to return to a downtrend, while the RSI shows that we are moving at the lower end of the range, which could potentially give a sideways trend or increases.
Let's start with the support line and as you can see the first support in the near future is $5.28, if the support is broken then the next support is $5.17 and $5.03.
Now let's move to the resistance line, as you can see the first resistance is $5.38, if you manage to break it, the next resistance will be $5.46, $5.52 and $5.59.
Looking at the CHOP indicator, we see that the energy is gathering strength, the MACD indicates that the price is about to return to a downtrend, while the RSI shows that we are moving at the lower end of the range, which could potentially give a sideways trend or increases.