- Decentralized Social (DESO) coin has a total circulating supply of 8.8 Million coins.
- DESO coin has shown a return of over 28% last month.
DeSo is a recently developed Layer-1 blockchain designed from the foundation to achieve the decentralization of social media on a massive scale, catering to billions of users.
In this framework, DeSo ensures that users reclaim ownership over their identity, profile, content, and social connections, establishing a fully censorship-resistant environment.
The total circulating supply of the DESO coin is 8.8 Million coins and the volume/market cap of the coin is 0.02.
The price of the DESO coin has shown a recovery of over 28% in the last three months, indicating a good performance by the coin.
Decentralized Social (DESO) Technical Analysis
The DESO coin has made a high of $198.68 as on June 2021. Presently the price reflects are decrease of -94% from its all time value.
The price of the DESO token is currently moving in an uptrend. The price is forming a higher pattern and the price has recovered over 123% after hitting an all-time low.
The DESO coin is presently moving inside the symmetrical triangle pattern and the price is near the resistance level of 11.28. If it breaks above the resistance, further upward movement can be seen in the upcoming days.
Technical Indicators Outlook About Decentralized Social Price
The MACD line of the DESO token is above the zero line and the formation of the green histogram is identifiable. Also, the MACD line is above the SMA line which is considered as the positive signal. The probability of the price rise increases with this.
Furthermore, the RSI and SMA lines are situated in the favorable territory above the 50 level. This placement is considered a positive signal.
Conclusion
The DESO coin is moving upwards. The price has shown an impressive recovery after hitting the all-time low level. The overall structure of the coin is positive and the indicators are also displaying a positive signal. Hence, the price is expected to rise in the upcoming days.
Technical Levels
- Support Level: $7.85 and $5.89
- Resistance Level: $11.690 and $15.27
Disclaimer
The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.