Since DENT reached its ATH at the start of April, this token has seen a continuous bleed from there. During this bleed, DENT lost around 93% of its ATH value at some point.
However, it appears that this continuous bleed has stopped for now. As seen on the chart, DENT has drawn a higher low on the chart, a potential reversal pattern in the making.
The main area to look out for is the 0.00282 resistance. Once we can get a daily close above that, I'd be looking for long entries. First major resistance from that point would be the 0.00475 area.
Obviously, keep an eye on the movements of Bitcoin. A reversal from BTC will drag all the alts down with it.
Happy trading!
However, it appears that this continuous bleed has stopped for now. As seen on the chart, DENT has drawn a higher low on the chart, a potential reversal pattern in the making.
The main area to look out for is the 0.00282 resistance. Once we can get a daily close above that, I'd be looking for long entries. First major resistance from that point would be the 0.00475 area.
Obviously, keep an eye on the movements of Bitcoin. A reversal from BTC will drag all the alts down with it.
Happy trading!
Comment:
Edit: The ATH of DENT is around 0.98. I'm talking abou the local high during this bull-cycle.
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