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- Dent token has been consolidating near the crucial demand zone for more than 3-weeks and retested $0.0022 support multiple times.
- The Stoch RSI is observing the overbought territory in terms of the daily price chart.
- The Dent token price with the Bitcoin Pair is trading at 0.0000000605 Satoshis, which is slightly bullish by 5.7%.
The Dent token has declined gradually after retesting $0.0080-Suppyzone (Redbox) multiple times. The price action of the DENT token suggests a low-high on the daily time frame and is often opposed to a sloping trend line (BLUE). The chart pattern has drawn a descending wedge pattern for Dent token price and the live price of the crypto is observing below the upper boundary of the lower pattern.
For the past several days, DENT token price has been consolidating just above an important support level of $0.00220. At the time of writing, the Dent cryptocurrency was trading at $0.00253, up 8.8% at the time of writing. After noticing a 5-red candle on the weekly price chart, the bulls are barely trying to see the weekend. However, the DENT token price is trading at 0.0000000605 satoshis along with the bitcoin pair, which is slightly up by 5.7%.
In terms of the daily price chart, Dent coin is approaching the 50-day EMA today after maintaining a price above the 20-EMA. However, the remaining MAs (such as the 100 and 200 MA) are above the current price. DENT Crypto has gained 30% trading volume in the last 24 hours and the daily volume bars are below the moving average (blue). Meanwhile, the volume to market capitalization ratio is 0.195.
Traders await the breakout of a falling wedge pattern
An immediate support area for DENT is $0.0022 and buyers are likely to face a retracement phase near $0.0032 (resistance level). Thus, the Stoch RSI is moving towards an overbought zone in the context of the daily price chart. Moreover, the Average Directional Index is indicating a weak bullish trend for the DENT token.
Conclusion
Bulls need to break Dent Token above a falling wedge pattern with colossal trading volume as soon as possible; otherwise, bears may push the crypto price below the demand zone.
Support level – $0.0022 and $0.00150
Resistance level – $0.0032 and $0.0050
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.
