DUSK ANALYSIS: JULY, 2021
Dusk network has developed the dusk coin to enable users to tokenize financial instruments. Here’s the price analysis of Dusk.
Dusk token is trading at $0.11. It has formed a symmetrical triangle formation on the daily time frame. The resistance and support zones are clearly depicted on the charts by the price action. After a 75% fall in value, Dusk has been consolidating since mid-may and has reached a crucial level. From this point, either side movement is possible.
Having experienced a bearish trend since May, the coin is trading below its 50-day and 200-day exponential moving average. Moreover, the 50-day moving average has given a death cross below the 200-day moving average which is a bearish indication.
Currently, the bullish volumes are higher than average and more than the bearish ones. If these volumes continue, we can see a possible breakout above the resistance zone.
The Relative Strength Index is showing mild price strength for the coin as it is near the trendline. The RSI has been making the same pattern as the coin on the charts. It is currently positioned at 45.59.
The MACD has completely converged with the signal line showing indecisiveness. Investors must wait for the MACD to show clear direction.
The price analysis of Dusk shows indecision among buyers and sellers.
On the breakout and close above $0.121, $0.171 and $0.197 are the targets on the upside.
On the breakdown and close below $0.10, $0.075 and $0.049 are the targets on the downside for Dusk.
The price analysis of Dusk hints at movement on either side.
TRIAS ANALYSIS: JULY, 2021
Trias coin aims to be an all-platform public coin for next generation transactions. Here’s the price analysis of Trias.
Trias is trading at $3.77. It has formed a descending triangle formation, which is a bearish continuation pattern. The coin is actually near the demand zone of the patter. This zone ranges from $3.47 to $3.74 on the 4-hour timeframe. This range has proven to be a great support zone previously. However, this time there is a possibility of a breakdown since the coin has closed inside this region for the first time.
The coin is distinctly in a bearish trend since it is trading below its 50-day and 200-day exponential moving average. Not only that but it is facing resistance from the former.
The volumes are low at the support zone indicating lack of buying and hinting at a possible breakdown.
The Relative Strength Index is showing indecision since it hovers over the lower trendline. It can either bounce from this level or see a breakdown as well. It is currently positioned at 38.93.
The MACD is below the signal line, giving a ‘sell’ call to investors in the short-term.
On the breakout and close above $4.20, $4.62 and $5.33 are the targets on the upside.
On the breakdown and close below $3.48, $2.79 and $2.33 are the targets on the downside for Trias.
DOGECOIN ANALYSIS: JULY, 2021
Dogecoin was developed as a joke against Bitcoin and is popularly referred to as a meme token. Here’s the price analysis of Doge.
Doge is trading at $0.199. It seems as though the frenzy for the coin has vanished completely. Investors seem to be selling their dogecoin holdings since May. As mentioned in the earlier analysis of Dogecoin, the coin tested $0.179 in the month of June.
It also showed a good recovery after which it again lost value. Dogecoin now stands at a critical support region. On its breakdown, there is likely to be a free fall for the “meme coin”. However, the coin has a history of rising on account of the Doge father, Elon Musk’s tweets.
The coin is trading quite below its 50-day exponential moving average and is in the grip of bears. The volumes have been next to negligible in the last few days hinting at a lack of interest in the coin.
The Relative Strength Index is flat on the daily chart. It is drifting downwards slowly due to less participation of buyers. It currently stands at 35.85, with a potential to go lower.
The MACD is not showing any clear direction since it is converged with the signal line. However, a cross below it will confirm the selling pressure. If it crosses above the signal line due to some participation of buyers, a reversal can be seen.
On the breakout and close above $0.22, $0.25 and $0.265are the targets on the upside.
On the breakdown and close below $0.179, $0.164 is the target on the downside. If Dogecoin closes below $0.164, a free fall is expected.