DUSK Price Analysis: DUSK Price is on a bullish trend with a positive sloping trendline acting as resistance

• DUSK Coin Price has been on a bullish trend along a positive sloping trend line
• The volumes for the coin are very impressive on an average and have been increasing consistently
• The coin has formed a V-shaped recovery after a correction on the hourly chart

DUSK Coin Price has been on a bullish trend over the past week after correcting for a brief period after peaking at $ 1.32. The coin had earlier formed a golden crossover in early November and since then there has been no looking back for the coin. The Coin tested the 20 and 50 days moving averages during the last week but successfully remained above the averages. The volumes for the coin are also impressive. The coin is again nearing the resistance at $ 1.32 and its movement over the next couple of trading sessions is crucial for the coin’s directional reversals. The Relative Strength Index (RSI) indicates neutrality for the coin.

DUSK Coin Price on the hourly charts is showing a V-shaped recovery post the correction after reaching the peak at $ 1.32. The coin tested the support at $ 0.55 and reversed from a bearish to a bullish trend post the testing. The coin is now again trading close to the resistance zone. The coin is currently in a parallel channel that is positive sloping and the coin reverses this pattern at the resistance zone, as the resistance zone is very strong. The Moving Average Convergence Divergence (MACD) is hinting at reversal signs with the bearish histograms increasing in size. 

Conclusion: 

The coin price has formed a V-shaped recovery on the hourly chart, however, the coin is close to its resistance zone and hence the price action over the next few trading sessions is crucial for the future direction of the coin.

Support: $ 0.55

Resistance: $ 1.32

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 any financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

News Source