Will DUSK Crypto Price Hit The Mark Of $1 And Lead To New Highs?

• The DUSK crypto has given a return of 70% in the last one year.
• It is outperforming the world cryptocurrency market as per Coingecko.

Dusk is a blockchain platform that enables the trading of real-world assets with privacy and compliance. It uses ZKPs, private smart contracts, and a PoS consensus mechanism, offers benefits for businesses, institutions, and users and It has a dual token system of DUSK and KCAL. It is based in Amsterdam.

DUSK’s maximum volume is traded on the USDT pair. The circulating supply of the DUSK crypto is 421.164 Million DUSK, following a total supply of 500 Million DUSK, resulting in a non-defined amount of max supply.

The fully diluted valuation of the cryptocurrency is $82.257 Million, which results in a ranking of 395 as per market cap. As per Coingecko, the current market sentiment of the DUSK crypto is bullish.

More than 100% of traders are bullish on the DUSK crypto. The market cap for the crypto has advanced by more than 1% in the last 24 hours, resulting in $69.164 Million. It further has followed a volume decline of 20.79%.

DUSK Token Distribution Overview

The DUSK token has witnessed a decline in its number of holders resulting in 17.65K followed by a total transfer of 119K. Further, in comparison to June 2023, the token transfer has witnessed a huge decline. It has dropped from a transfer amount of 36.83M DUSK to 11.78M DUSK.

DUSK Derivative Data Analysis

The derivatives activity of the DUSK crypto is very low. Moreover, the derivatives trading volume of the DUSK has declined by 42% in the last 24 hours. It follows a long liquidation of $295.03 resulting in a long/short ratio of 0.8359.

DUSK Crypto Technical Analysis

After following a strong downtrend the DUSK crypto price is trying to rebound from the lower levels. The most crucial level is at $0.335948. If the price breaks above this level, it might result in higher levels. That is because the following level will result in a change of character to bullish on higher timeframes.

DUSK/USD Live Chart by TradingView

The DUSK crypto price has broken above the 20,50 and 200-day EMA on the daily timeframe. It is leading to an uptrend in the crypto price resulting in the buyers’ dominance. 

The MACD is witnessing a decline in the trend as the MACD line is trading above the signal line. Despite that, the indicator lines are trading above the zero level which indicates that the price might be taking a retracement.

Conclusion

DUSK crypto is showing signs of a bullish reversal after a long downtrend. The price has broken above the key resistance level and the moving averages, indicating a shift in the momentum and the trend. The MACD is also positive, although it may signal a short-term pullback before the next rally. Thus, the price might continue to advance to higher levels.

Technical Levels 

• Support levels: $0.072250 and $0.140144
• Resistance levels: $0.561173 and $1.035112

Disclaimer

The views and opinions stated by the author or any other person named in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.