Hello everyone, let's take a look at the 1D GMT to USDT chart as you can see the price has come out of the downtrend channel and is moving on the verge of returning to that channel.
Let's start by setting goals for the near future that we can take into account, in this case we have two zones of resistance
First from $ 0.7405 - $ 0.8305
and
Second from $ 1.0913 - $ 1.2240
Now let's move on to support in case of further market downturns, and as you can see in the chart, we have two important support zones
The first zone from $ 0.6099 - $ 0.5310 where the price is currently located
Looking at the CHOP indicator, we can see that in the 4H range the energy slowly starts to rise, while the MACD indicator shows a local upward trend.
Let's start by setting goals for the near future that we can take into account, in this case we have two zones of resistance
First from $ 0.7405 - $ 0.8305
and
Second from $ 1.0913 - $ 1.2240
Now let's move on to support in case of further market downturns, and as you can see in the chart, we have two important support zones
The first zone from $ 0.6099 - $ 0.5310 where the price is currently located
Looking at the CHOP indicator, we can see that in the 4H range the energy slowly starts to rise, while the MACD indicator shows a local upward trend.