coinjournal.net
Key takeaways
- $DUSK has dropped below $0.2, losing 35% of its value in the last 24 hours.
- The coin rallied to $0.32 on Monday, up 150% within a week.
$DUSK cools down following its recent surge
$DUSK, the native coin of the Dusk Network, has dropped below the $0.20 level, losing more than 35% of its value in the last 24 hours. The bearish performance comes after the coin added 150% to its value within seven days, outperforming major cryptocurrencies.
Data obtained from CoinGlass shows that futures OI at exchanges reached a new all-time high of $47.94 million on Monday and steadied around $39 million on Tuesday.
During that same period, the OI on the Binance exchange has reached $20.54 million, levels not seen since February 2023. The growing OI means new or additional money is entering the market, resulting in $DUSK’s price surging higher.
Santiment data also shows that the $DUSK ecosystem’s trading volume reached a new all-time high of $298.43 million on Monday and steadied around $264.16 million on Tuesday.
On Monday, Dusk announced its partnership with Chainlink to integrate key standards across DuskEVM. The integration will enable cross-chain interoperability for tokenized real-world assets and support real-time, high-integrity data for compliant financial applications, backed by NPEX, a fully regulated Dutch stock exchange.
Will $DUSK rally towards $0.33?
The $DUSK/USD 4-hour chart remains bullish and efficient despite the 35% pullback within the last 24 hours. It is still trading above the weekly resistance level at $0.17, with the bulls defending this level.
If the bulls regain control and $DUSK closes its daily candle above the weekly resistance level, it could extend the rally toward the December high of $0.33.
$DUSK/USD 4H Chart">
The Relative Strength Index (RSI) on the 4-hour chart stands at 74, above the overbought threshold, indicating strong bullish momentum. The Moving Average Convergence Divergence (MACD) also showed a bullish crossover.
However, if the correction persists, $DUSK could extend the decline toward the 50% price level at $0.18.