- The DIME coin price has given a breakout from the $0.000021 resistance level.
- The current Dimecoin price is trading at $0.00002818, with an increase of 1.52% during the intraday trading session.
Launched in December 2013, the Dimecoin (DIME) is a digital currency and one of the oldest UTXO blockchains. The network is primarily operated by its volunteer members. It aims to remain decentralized and to bridge the gap between traditional fiat and blockchain technology. This cryptocurrency is available on several exchanges like Xeggex StakeCube, CryptoRad, and Mercatox.
The DIME Coin Price Has Delivered a 66.31% Return in One Year!
On March 12, 2023, the DIME coin price formed a bullish rejection on the opening of the $0.00001564 level. It surged toward the $0.00002134 resistance level, creating a substantial bullish market sentiment.
As a result, the crypto traders decided their long positions on the $0.00001564 demand level. Afterward, the price moved and broke above the $0.00002134 resistance level by making a decisional demand zone on the $0.00002046 support level.
Consequently, the DIME coin price got a bullish reaction from the decisional demand zone within the first week of January 2024. The $0.00002046 level prevents the main price structure from falling by consistently giving multiple rejections.
The total market capitalization of Dimecoin stands at $13,44 Million, ranking 889th out of 8,822 active cryptocurrencies. The all-time high is at $0.0007912, and the current market price is moving 996.44% below it.
Technical Analysis of the DIME Coin Price
The DIME coin price has recently formed two bearish candles from the $0.00002857 level. However, the candles looked weak and got a solid bullish reaction from the $0.00002726 level, indicating the presence of buyers.
Alternatively, the DIME coin price is in a bullish rally toward an immediate resistance of $0.00002865. The sellers failed to maintain the resistance from the $0.00002796 level, which resulted in a bullish engulfing candle in the three-hour timeframe.
The price is trading at $0.00002805 at press time above the previous candle closing price. It is a sign of positive sentiments in the current session. The DIME coin price is moving upward and may soon break the $0.00002865 resistance.
However, if the DIME coin price closes below the $0.00002726 support level, it may fall to the next demand level of $0.00002634. Or, if the price drops to the $0.00002784 level, another rally can take place.
Conclusion
The DIME coin price is moving upward by forming higher high swings. It is respecting both extreme and decisional demand zones. Therefore, the price prediction of the DIME coin will be bearish to the $0.00002865 resistance level. Additionally, the next target will be at the $0.00005531 resistance level.
Technical Levels
- Resistance Levels: $0.00002865 and $0.00005531
- Support Levels: $0.00002726 and $0.00002616
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto assets comes with the risk of financial loss.