📉 Expecting bullish price action on DAG as price rejected and important area of support somewher around 0.12000 psychological barrier. For a more conservative entry wait for a break above the last high on 0.20000.
What do you think, where are we going next ?
Constellation Coin price broke out of a descending wedge pattern on 23 March and now appears to be slightly bullish.
DAG token price is seen trading above the important moving average but it is yet to hit the 200-EMA.
For the upcoming trading session, the range of the consolidation phase (green box) may act as a demand zone and $0.28 represents a resistance level...
Riding the 7EMA up to resistance = rising triangle, likely to break within the next 2 days.
Im very familiar with this pattern on the smaller timeframes, so to see it on the daily level tells me that this will likely bring a nice 15-20% move.
Just an assumption. Nice range in play, current price ~middle range, however there is good momentum. boolish. Worse case...
$DAG is now testing the 0.180-0.182 resistance area - breaking this resistance AND the 50 day EMA crossing the 200 day EMA will follow with breakout to test the next major resistance of 0.24 within this week
The 50 day MA is about the cross the 200 day MA. The last time this happened, DAG moved bullishly to the 0.26 area. Now, if the 0.17 support is confirmed in the next 12 hours, and the 50 day MA crosses the 200 day MA, DAG will continue with bullish movement upwards to 0.26 (and beyond depending on whether it sustains that movement and in conjunction with BTC price action).
$DAG fundamentals have not changed at all - it is posed for mass adoption in the mid to long term.
The market crash has caused the whole crypto market dip heavily including $DAG.
Depending on the market situation in general and $BTC in particular, $DAG price movement will be working above its first support line (0.12). If $BTC recovers, then $DAG will rise to...
20 and 100 EMA on the verge of crossing over, indicating a flip in trend.
Orange dots: previous instances where 20/100 crossed over and the trend evidently shifted.
Just my thoughts/analysis.
DAG has succesfully broken out of this descending broadening wedge / falling wedge pattern, and is currently back testing the supply line as support. On this backtest there is potential Class A hidden bullish divergence on both RSI and MACD indicators. Managing risk for this asset is rather easy; just below the previous low. Continuation is implied for this asset...