RLinda ! DOTUSDT-> Resistance breakdown. What next?
DOTUSDT Has been in a global downtrend since mid-2021. The price stops at the limit support zone of 6.00, below which the price has not gone. In the consolidation phase, the boundaries of which are 7.77-6.79, the price breaks through the trend line
On the chart we can see that after the strong drop the price moves into consolidation phase, where the price breaks through the strong resistance trendline, which started on December 27, 2021. We also see a breakout of the range resistance and price consolidation in the long zone.
I assume, as the price at the breakdown of the range resistance consolidates above the level of 7.72, then we expect a complete fixation of the price, after which it is acceptable to look for an entry point to buy. But do not forget that the price can form a correction to the support of the range and continue trading within its limits. Short-term buying target is resistance at 8.6, the medium-term target is 9.65.
Regards R.Linda!
On the chart we can see that after the strong drop the price moves into consolidation phase, where the price breaks through the strong resistance trendline, which started on December 27, 2021. We also see a breakout of the range resistance and price consolidation in the long zone.
I assume, as the price at the breakdown of the range resistance consolidates above the level of 7.72, then we expect a complete fixation of the price, after which it is acceptable to look for an entry point to buy. But do not forget that the price can form a correction to the support of the range and continue trading within its limits. Short-term buying target is resistance at 8.6, the medium-term target is 9.65.
Regards R.Linda!
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