Dent Price Analysis: DENT’s waits for a trend reversal to get over its long-term neutral rally

• DENT’s crypto price continues to descend while attempting a neutral rally in the last week
• DENT’s CMP went up by 15% than last week, with its CMP close to its 24-hour high mark
• However, DENT stays bearish over the long-term due to a drastic downfall over the long term

DENT’s price aims at achieving a neutral rally after a volatile bearish short term. With a current market rank of 164, the token’s market cap saw a drop of 5.71% in the last couple of hours. The 24-hour trading volume got decremented by 1.35%. The volume to market cap ratio comes out to be 0.1115. The DENT/BTC pair suffered an intraday loss of 3.22%, followed by the DENT/ETH pair’s decrement of 1.45% during the intraday session.

The formation of the three descending peaks brought down the value, but the bullish engulfing pushed the price back to a safe level where DENT currently rallies. The hourly chart of DENT’s price stays volatile due to the drastic fall of the token due to market-wide incidents. The 50, 100 and 200 EMA lines run above the CMP. The formation of a symmetrical triangle over the candlesticks near the CMP confirms the ongoing neutral trend that started at the start of the week.

DENT’s price action stays neutral with hopes of getting bullish soon

DENT’s daily chart shows that the token currently aims at attempting a bullish rally over the long term. The MACD line runs over the zero level but stays above the signal line and has flat-lined to indicate current stability. As confirmed by its SMA line, the RSI graph stays neutral.

Conclusion- DENT calls out bullish momentum on the daily chart for the long term and does the same for the short term. One can consider the token for a day trade while waiting for the dip or invest in DENT for a long position.

Resistance- $0.005247

Support- $0.002872

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.

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