Hi, Today we are doing a short DOGE to USDT analysis on a 1 day timeframe.
At the beginning, the downtrend line can be marked with a blue line.
Now let’s move on to the line of support, I will use the purple color and the Fib Retracement tool. As you can see, the first support is at $ 0.1201, if the price does not maintain the support, the next one is at $ 0.0871.
Now it is worth moving on to determining the resistance points that the price must overcome in the event of price increases, the first resistance is at $ 0.1430, and the next resistance is at $ 0.1567, $ 0.1680 and $ 0.1789.
It is worth paying attention to the CHOP indicator , which shows that we are recovering energy for the 1 day interval, while the MACD indicator shows a blue line under the red one, which confirms the downward move.