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Dent is a blockchain-based wireless technology that provides users with a new-age digital and global mobile operator. It is a robust marketplace for trading Telco assets. With nominal roaming fees, it enables users to stay online even while traveling. DENT is the governance token of this ecosystem. Let’s see what DENT technical analysis proclaims about the performance of the coin for the next two days.
Past Performance
On March 30, 2021, the opening price of DENT was $0.012. As of April 5, 2021, the closing price of DENT was $0.019. Thus, in the past week, the price has soared by approximately 58%. In the past 24 hours, DENT has traded between $0.018-$0.023.
https://www.tradingview.com/x/gxzFvSg9
Day-Ahead and Tomorrow
Currently, DENT is trading at $0.018. The price has decreased from the closing price of $0.019. Thus, the market seems bearish.
The A/D line is falling. Thus, selling pressures are slowly overtaking the market. Hence, we can expect the price to dip further as whale distributions are rising.
The MACD and signal lines are negative. A bearish crossover by the MACD line over the signal line has occurred too. Thus, the overall market momentum is bearish. Hence, we can expect the price to decline further.
Currently, the RSI is at 34%. It has just rallied from the 30% mark. It is a good time for swing traders to go long. Selling pressures are still high. Hence, we can expect the price to fall further.
DENT Technical Analysis
As per technical analysis, the price has fallen below the first Fibonacci pivot support level of $0.018. As the bears seem strong, by day close, we can expect the price to fall below the subsequent support levels of $0.017 and $0.015, respectively.
The price has tested and fallen below the 23.6% FIB retracement level of $0.019. It may soon fall below the 23.6% FIB extension level of $0.017. As of now the price downtrend is strong and expected to continue tomorrow as well.