en
Back to the list

DIA and bZx Protocol (BZRX) Technical Analysis: What to Expect?


cryptoknowmics.com 14 May 2021 13:12, UTC
Reading time: ~3 m

bZx Protocol and DIA prices are bottoming up. DIA/USDT–provided $3 holds, can reach $8 in the medium-term. On the other hand, BZRX/USDT may eventually soar to $1.05.

bZx Protocol (BZRX)

To differentiate itself against stiff competing, the bZx Protocol offers lending services and leverage trading. Its governance token is the BZRX.

Past Performance of BZRX

BZRX technical analysis indicates a potential move higher since bulls are resilient.

Trading at $0.77, BZRX is firm, adding roughly eight percent across the board versus BTC, ETH, and the USD.

However, from BZRX/USDT price action, the token remains in a range between $0.50 and $1.05.

Day-Ahead and What to Expect

On the last trading day, BZRX prices are within a $0.14 zone with caps at $0.79 and $0.65, respectively.

Meanwhile, momentum is building up. Trading volumes are within average at around $36 million.

Overly, risk-averse traders can wait for a breakout above the current consolidation for a trend continuation.

BZRX/USDT Technical Analysis

BZRX buyers are in control, grinding higher in a positively inclined trend line.

Gains above May 12 highs and $0.85 may trigger demand, driving BZRX/USDT towards the main resistance level at $1.05.

On the flip side, sellers—from an Effort-versus-Results perspective—may flock back, forcing BZRX prices below May 12 lows at $0.75, building momentum for further losses towards $0.50.

Decentralized Information Asset (DIA)

This is a decentralized and public oracle platform using DIA tokens for governance.

Past Performance of DIA

DIA prices are inching higher inside an ascending channel.

Although bullish, prices are relatively stable versus the USD and BTC. The token is trading at $4.3, moving inside a $1 range on the last day between $3.89 and $4.82.

From a top-down perspective, DIA/USDT is within a $2 zone with caps at $3 and $5.5, respectively.

Day-Ahead and What to Expect

DIA technical analysis points to buyers.

Still, despite market confidence, DIA/USDT is in range mode with caps at $5.5 and $3 as aforementioned.

Ideally—and provided the main support trend line holds, a close above $5 confirms the three-bar bullish reversal pattern of late April 2021 highs.

In that case, DIA may glide back to new all-time highs of $8—the Fibonacci extension level of the Q1 2021 trade range.

DIA/USDT Technical Analysis

DIA buyers are in charge of above $3. Losses below the main support trend line and $3 triggers a sell-off towards Q1 2021 lows of around $1.1.

On the flip side, there would be room for growth upon confirmation of the double bar bullish reversal pattern of May 12 and 13. Then, the price may expand above the current range towards $8.


   Source
Back to the list