Tracking DIA, 2 good roads & potential to be the next LINK/BAND?
In my continuing series tracking DIA the last post I proposed after calling the bottom for DIA’s tumble that due to odd large order volumes it seemed that DIA was likely being corralled into a range that would form out to be an upward wedge that wouldn’t resolve itself format least another 3 days. Yet I admit here I was quite conservative, and the past day has shown a strong break upwards out of that channel and past the restrictive .786(1.135) Fib and up to 1.5, an area strong with volume support from the past few months.
This action to me at least demonstrates a rejection of DIA being corralled into lower channels and prices sub 1.25 and keen to join a much large channel formed all the way back from the first crash in Oct. (A crash from 4$ I consider to be largely from over bullish hype on a new project that wasn’t sustainable, not a perceived loss of value in the coin and project).
If Bitcoin and other cryptos don’t continue their near parabolic movements as seen this past month and either trend sideways or slowly march up I can see DIA sticking into this formed channel in what I call Scenario B. This scenario is less exciting but it provides a good set of bounds and range to trade the coin back and forth in over the coming months until likely some external event forces a much deserved Breakout.
Scenario A is what the rabid HODLers on DIA’s Telegram hope for. When not sending barrages of questions at the poor community support staff asking why Binance and Kucoin have yet to deliver their Airdrops then yearn for a 2$+ price tag, Scenario A. Scenario A isn’t about reaching 2$ but about breaking above that strong top resistance line drawing back to April. In Both Scenarios which I see not too far off DIA makes 2$ but a breakout in Scenario A would really need to get above the 0.5(2.21$) Fibb to convince me to already double down on my bags.
There is no chart voodoo magic going on, just fibs and simple support and resistances drawn on 4hr charts and projected her onto 1D charts. Overall if you are uncertain about adding now as of writing at 1.52~ I think either loading up at 1.385 if we get another bad day or waiting for confirmation of it breaking the .618 Fib is totally reasonable. Its sorta smack in between the two and on the Fib Bollinger bands seems tepid to either return to central moving average or the first channel.
Long story short: Long term DIA has carved a nice channel to move up from, but it certainly has all the elements it needs to shoot up like a rocket as people look for the next big oracle data linking project, ALA: LINK or BAND. People always want the next big thing and the newest tokens right now flying around the DEFI space all seem to be oriented around lending, margin, collaterals and other schemes to make your one token act as if it is two or three. Only a few will survive, DIA has a great use case and unique approach, and with enough eyes on and a big breakout move could garner lots of fresh cash coming in and bring us back to ATH’s before the middle of this year.
This action to me at least demonstrates a rejection of DIA being corralled into lower channels and prices sub 1.25 and keen to join a much large channel formed all the way back from the first crash in Oct. (A crash from 4$ I consider to be largely from over bullish hype on a new project that wasn’t sustainable, not a perceived loss of value in the coin and project).
If Bitcoin and other cryptos don’t continue their near parabolic movements as seen this past month and either trend sideways or slowly march up I can see DIA sticking into this formed channel in what I call Scenario B. This scenario is less exciting but it provides a good set of bounds and range to trade the coin back and forth in over the coming months until likely some external event forces a much deserved Breakout.
Scenario A is what the rabid HODLers on DIA’s Telegram hope for. When not sending barrages of questions at the poor community support staff asking why Binance and Kucoin have yet to deliver their Airdrops then yearn for a 2$+ price tag, Scenario A. Scenario A isn’t about reaching 2$ but about breaking above that strong top resistance line drawing back to April. In Both Scenarios which I see not too far off DIA makes 2$ but a breakout in Scenario A would really need to get above the 0.5(2.21$) Fibb to convince me to already double down on my bags.
There is no chart voodoo magic going on, just fibs and simple support and resistances drawn on 4hr charts and projected her onto 1D charts. Overall if you are uncertain about adding now as of writing at 1.52~ I think either loading up at 1.385 if we get another bad day or waiting for confirmation of it breaking the .618 Fib is totally reasonable. Its sorta smack in between the two and on the Fib Bollinger bands seems tepid to either return to central moving average or the first channel.
Long story short: Long term DIA has carved a nice channel to move up from, but it certainly has all the elements it needs to shoot up like a rocket as people look for the next big oracle data linking project, ALA: LINK or BAND. People always want the next big thing and the newest tokens right now flying around the DEFI space all seem to be oriented around lending, margin, collaterals and other schemes to make your one token act as if it is two or three. Only a few will survive, DIA has a great use case and unique approach, and with enough eyes on and a big breakout move could garner lots of fresh cash coming in and bring us back to ATH’s before the middle of this year.