- Dent token seems in the bullish territory as soon as investors hold up at the $0.003061 level.
- Dent Token’s price action draws a double bottom chart pattern in the daily time frame.
- DENT/BTC pair price is in the red zone by 2.24% at 0.00000008575 BTC.
After hitting the peak of $0.22700 at the beginning of April, the bears clutched the DENT Token, and the token started moving downward. Then buyers started to put buying pressure on the token from the $0.001561 pivotal support level. Since, DENT token stuck in the battle of buyers and sellers and trading under the $0.003061 to $0.007642 range.
Today, the live data of DENT Token is trading in a slightly negative zone by 0.96% at $0.003688. Over the last 24-hours trading session, the token has lost 39.80% volume, at $43.5 million. DENT/BTC pair price is favorable by 2.24% at 0.00000008575 BTC. However, the DENT/ETh pair price is in the red zone by 2.91% 0.000001112 ETH. DENT has s0.02% market dominance, and the Volume/market Cap ratio is 0.1193.
According to DENT Token’s price action, it is indicating the double bottom chart pattern in the daily time frame. Recently, Token took support at $0.003061 and bounced back, which makes this level a pivotal level for investors. If Token breaches the double bottom pattern’s neckline (at $0.004751), buying may happen.
DENT Coin is retesting the 50 MA as a resistance
Recently, DENT Token attempted to breach 20 and 50 MAs, but the token failed. Now the token has turned back from the $0.004751 fundamental level. Again token trading is below the 20,50,100, and 200 moving averages. DENT Price has to breach 20 and 50 MAs for the bullish trend, then 100 and 200 MAs will be the following bullish barrier.
After the dip in oversold territory, RSI bounced back, showing the 48 mark, which is below 50. Suppose RSI successfully starts to move above 50. In that case, it can be considered a bullish trend. This MACD indicator has generated a soft bullish crossover on 20 December, and MACD may cross the negative zone ahead.
Conclusion
Looking at the current market scenario, investors will have to lift the Token above $0.004184 key resistance for the bullish trend. On the other hand, if the Token breaks $0.003661, then Token may retest $0.001570 soon.
Support level – $0.003661 and $0.001570
Resistance level – $0.004751
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.