These two DeFi-tokens start giving bullish signals
Support level for DIA breaks at $ 1.18 and resistance at district $ 1.96 and $ 2.80
PNT punched line downward resistance
PNT may have completed an impulsive bearish move
DeFi-token DIA (DIA) confirmed the status of an important support level of $ 1.18, but until does not give clear signals of growth
The Penta (PNT) may have completed an impulsive bearish move by breaking through a downward resistance line.
DIA – deviation from the minimum of the range
The DIA has been following a downtrend resistance line since September 2, when was reached a maximum of $ 4.92. On September 25, the price broke this line, but could not maintain the upward momentum.
Despite this the charts show a bullish signal, which is realized in the form of a short-term deviation from the support of $ 1.18, which the price quickly recaptured. it can speak in favor of an early recovery.
If So, the nearest resistance levels are expected at $ 1.96 and $ 2.80, respectively.
DIA chart from TradingView
Cryptocurrency trader @Cryptonewton tweeted a DIA chart showing a potential head and shoulders pattern as well as a downside resistance line, a breakout which will send quotes to $ 2.80.
When this, as seen on graphics above seems to be a token growth the use of cryptocurrencies appear new types of tokens. They are may personify value or something intangible, like, eg, vote. Two… More already tested the line resistance, and the presence of a head and shoulders pattern is not clearly traced. However, deviation from support speaks in favor of an upward breakout, while region $ 2.80 coincides with the second resistance level indicated above.
However, there are no clear signals of a bullish reversal either. Price yet did not form a rising low, having lost the 0.618% retracement level relative to the bullish move. Topics time RSI and MACD are declining without giving signals of bullish divergence.
If the level of $ 1.18 is lost, the DIA risks resuming the bearish move.
DIA Chart by TradingView
PNT – bearish momentum faded?
PNT has been following the downtrend resistance line since August 13, when it hit a high of $ 1.39. Probably, price lost its bearish momentum (blue on the chart), hitting a low at $ 0.361 on October 7. The next day, the token broke through the resistance line.
Despite the lack of significant recovery after of this breakout, RSI and MACD are giving significant bullish divergence signals, moreover the latter even entered positive territory. Wherein the stochastic oscillator has not yet formed bullish intersection but close to it.
If the price starts to move northward, the next two resistance levels are expected at $ 0.70 and $ 1.05.
PNT Chart by TradingView
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