DOT/USDT 1D Review

Hello everyone, let's look at the DOT to USDT chart on a one-day time frame. As you can see, the price remains above the uptrend line.

Let's start by drawing a support line. And as you can see, the price is in front of a very strong support at the so-called golden point Fib Retracement equal to $ 5.63, if the support is broken then the next support is $ 5.02 and $ 4.22.

Now let's move on to the resistances that the price has to overcome. First, we have a very strong resistance zone from $6.23 to $6.54, when we manage to break it, the second resistance is $6.85, the third at $7.32 and then the fourth at $7.90.

Looking at the CHOP indicator, we see that there is still some energy left, the MACD indicates a downtrend, however, the RSI is approaching the lower limit, which may indicate the approaching end of the correction.