- The Dusk Network token has been underperforming since noticing a double top formation near the ATH mark.
- The DUSK token shows low liquidations nowadays; Thus traders saw a 30% drop in trading volume last night.
- The DUSK token belonging to the bitcoin pair is in the red zone by 5.3% at 0.0000007138 Satoshis.
The Dusk Network is struggling to survive the pressure of token sales. In late 2021, DUSK had a solid bull run to an all-time high of $1.17. Amidst the ATH mark, the bears took advantage of the selloff after seeing a double top formation on the daily price chart.
In terms of the daily price chart, bears have a solid selling point near the descending trendline (dotted white). Recently, buyers lost the 0.280 crucial defending zone last night, which was valid from the past several weeks.
For the past 4 Weeks, the DUSK continued to note red candles, therefore, it lost over 42% cost in this month. At the time of writing, the DUSK is trading at $0.2833, with a 2.7% drop in Market cap in the past 24-hours as per the CMC. Moreover, the DUSK token belonging to the bitcoin pair is in the red zone by 5.3% at 0.0000007138 Satoshis.
The 20 EMA seems to be a resistance zone for the bears for the past several days. And remaining essential EMSa such as 50,100 and 200 are well above the current price of DUSK token. However, the DUSK token shows low liquidations nowadays; Thus traders saw a 30% drop in trading volume last night.
Technical indicator suggests weakness in DUSK
The daily RSI indicator is attempting a recovery after reversing from the start of the oversold area (30 points). On the other hand, the MACD indicator moved lower after a bearish crossover.
Conclusion
The Dusk Network token is just above the recovery zone, yet the bulls see the crypto trend weak to reverse. Thus any decline could take the price to the conceptual round level of $1.0.
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.