Hello everyone, today I'm going to analyze one of the coins that have a further conception, multiple utilities, and a strong infrastructure, it's called DNX.
1)DNX has been stuck in this Elongated trading range for a few months. Within this range, we have both support and resistance levels, along with a midpoint.
2)Wen we first time, tried to breakout from $0.75 range, we got rejected! after second try, DNX successfully breakout from $0.75 range, and rise up to $1.2, and got rejected again from $1.2 zone, and pullback to previous rejected zone $0.75, and trying to establish there. So after few tries price got nice support zone at $0.75, so we converted $0.75 rejection zone into acting support.
3)We've accurately measured the ABC Flat correction. Currently, it's evident that points A and C are the same horizontal level, and there's been a bounce from this zone. This confirms that the trend momentum has already shifted towards the upside, and the Flat correction has also performed as expected.
4)We've been effectively using the MACD indicator in this analysis. Observing the MACD Histogram approaching the zero level indicates a potential shift in momentum trend. Additionally, the 12-day and 26-day EMAs of the MACD lines have already crossed each other, that's mean we got great opportunity for future growth phase.
5)Completing this analysis, we have so much potential, for upcoming weeks we will see healthy growth, and wen we breakout from this Rectangle resistance level of $1.20, our further target is $3 per-DNX.
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1)DNX has been stuck in this Elongated trading range for a few months. Within this range, we have both support and resistance levels, along with a midpoint.
2)Wen we first time, tried to breakout from $0.75 range, we got rejected! after second try, DNX successfully breakout from $0.75 range, and rise up to $1.2, and got rejected again from $1.2 zone, and pullback to previous rejected zone $0.75, and trying to establish there. So after few tries price got nice support zone at $0.75, so we converted $0.75 rejection zone into acting support.
3)We've accurately measured the ABC Flat correction. Currently, it's evident that points A and C are the same horizontal level, and there's been a bounce from this zone. This confirms that the trend momentum has already shifted towards the upside, and the Flat correction has also performed as expected.
4)We've been effectively using the MACD indicator in this analysis. Observing the MACD Histogram approaching the zero level indicates a potential shift in momentum trend. Additionally, the 12-day and 26-day EMAs of the MACD lines have already crossed each other, that's mean we got great opportunity for future growth phase.
5)Completing this analysis, we have so much potential, for upcoming weeks we will see healthy growth, and wen we breakout from this Rectangle resistance level of $1.20, our further target is $3 per-DNX.
Hit the like button and subscribe if you liked this analysis :)