Hodl, dear members of LeoFinance!
Today I would like to comment on the price chart of Dent.
In the weekly chart (1W), DENT/USD has formed a Bullish Engulfing (common trend reversal pattern) similar to the price charts of many major cryptocurrencies:
This candlestick formation is a clear signal pointing to a potential price rebound
Moreover, in the 4-hour chart (4H), DENT/USD is trying to exit the Descending channel:
In my view, if the exit is successful then the price of Dent will try to reach the highest local high of the channel - the local high from 15th of August that is at the level of approximately $0,0083.
To be continued ...
As of the time of writing, one DENT costs $0,00588 on the Binance crypto exchange, according to TradingView.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last 15 years, and as a cryptocurrency analyst for the last 4 years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.
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