DAR/USDT Potential Double Bottom Formation Targeting >> $0.262
Hello TradingView community,
I'd like to bring your attention to the DAR/USDT trading pair (Mines of Dalarnia), as we are observing a potential double bottom pattern (W-shape) forming on the daily chart. This technical analysis aims to provide insights into possible price movements and targets for the DAR coin.
The double bottom pattern is a bullish reversal pattern that typically indicates a potential trend reversal from a downtrend to an uptrend. In the case of DAR/USDT, the formation of the W-shape seems to be nearing completion, with the right side of the pattern approaching the $0.212 price level. Once DAR reaches this price, the pattern will be activated, and we can expect a potential upward move.
The initial target for DAR, based on the double bottom pattern, is $0.262. This price level represents a significant increase from the current price and could lead to further upward momentum if the pattern plays out as expected. Moreover, if DAR continues its bullish move, it may aim to break the recent daily major swing high of $0.33.
Upon reaching the $0.33 area, DAR might experience some resistance and may need to establish a stable price action before attempting to move higher. If the bullish momentum continues, we could see DAR reaching for the $0.35 to $0.60 range.
However, it is essential to note that this analysis is solely based on the potential formation of the double bottom pattern, and other factors may impact the price movement of DAR. Therefore, it is crucial to keep an eye on market conditions, monitor the trade, and use proper risk management strategies.
In summary, the DAR/USDT trading pair is showing a potential double bottom pattern that could lead to an upward move targeting $0.262 and possibly extending to $0.35-$0.60 if the bullish momentum continues. Keep an eye on this developing pattern and trade carefully. Good luck!
I'd like to bring your attention to the DAR/USDT trading pair (Mines of Dalarnia), as we are observing a potential double bottom pattern (W-shape) forming on the daily chart. This technical analysis aims to provide insights into possible price movements and targets for the DAR coin.
The double bottom pattern is a bullish reversal pattern that typically indicates a potential trend reversal from a downtrend to an uptrend. In the case of DAR/USDT, the formation of the W-shape seems to be nearing completion, with the right side of the pattern approaching the $0.212 price level. Once DAR reaches this price, the pattern will be activated, and we can expect a potential upward move.
The initial target for DAR, based on the double bottom pattern, is $0.262. This price level represents a significant increase from the current price and could lead to further upward momentum if the pattern plays out as expected. Moreover, if DAR continues its bullish move, it may aim to break the recent daily major swing high of $0.33.
Upon reaching the $0.33 area, DAR might experience some resistance and may need to establish a stable price action before attempting to move higher. If the bullish momentum continues, we could see DAR reaching for the $0.35 to $0.60 range.
However, it is essential to note that this analysis is solely based on the potential formation of the double bottom pattern, and other factors may impact the price movement of DAR. Therefore, it is crucial to keep an eye on market conditions, monitor the trade, and use proper risk management strategies.
In summary, the DAR/USDT trading pair is showing a potential double bottom pattern that could lead to an upward move targeting $0.262 and possibly extending to $0.35-$0.60 if the bullish momentum continues. Keep an eye on this developing pattern and trade carefully. Good luck!