What’s Next for DUSK Network (DUSK) After New All-Time High?

Dusk Network (DUSK) is approaching a really robust resistance space created by a confluence of Fib ranges, which might trigger a rejection.

The weekly chart exhibits that DUSK has practically tripled in worth over the previous two weeks, culminating with a brand new all-time excessive of $0.656 on Dec 15. 

The excessive was made very near the 1.61 exterior Fib retracement resistance stage at $0.69. This Fib stage very generally acts as resistance after the value reaches a brand new all-time excessive. 

Despite being near resistance, technical indicators have but to point out any indicators of weak spot. 

The MACD, which is created by a short- and a long-term transferring common (MA), is optimistic and rising. This signifies that the short-term MA is accelerating relative to the long-term one, and is an indication of bullish tendencies.

In addition to this, the RSI is transferring upwards and is above 50. Such readings recommend that the pattern is bullish. While the truth that the RSI is above 70 signifies that it’s overbought, it could actually keep inside this area for a big time period. Finally, the sharpest components of the upward motion often transpire inside overbought areas. 

If DUSK manages to clear the $0.69 resistance space, the following one can be at $1.06, created by the two.61 exterior Fib retracement resistance stage.

Chart By TradingView

Future motion

A more in-depth take a look at the motion since June exhibits what seems to be like a bullish impulse, which is a 5 wave motion within the upward path. If appropriate, DUSK is within the fifth and ultimate wave of this enhance.

The proportion of the waves additionally suggests {that a} high close to $0.69 is probably going. The same goal is given when utilizing an exterior Fib instrument on wave 4 (white) and when measuring the size of waves 1-3 (black).

Chart By TradingView

DUSK/BTC

Cryptocurrency dealer @CryptoNTez tweeted a DUSK/BTC chart which exhibits a rise of 300% for the reason that starting of Nov.

Source: Twitter

The DUSK/BTC chart paints a equally bullish image. 

The token broke out from a descending resistance line and validated it as assist on Dec 6 (inexperienced icon). It has been transferring upwards at an accelerated price since. 

The subsequent closest resistance space is at 2100 satoshis, created by the Aug 2019 highs.

Chart By TradingView

For BeInCrypto’s newest Bitcoin (BTC) analysis, click here

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