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DIA surge 100% in 8 Days; Buyers Target $1.15 as Prices Bottom Up

cryptoknowmics.com 20 May 2022 04:14, UTC
Reading time: ~2 m

DIA is up 100 percent in eight days, breaking above $0.85 as buyers flock back. Buyers appear to be in charge, and prices may rise to retest April 2022 highs.

Past Performance of DIA

DIA prices are defying gravity at spot rates. It is up roughly 100 percent in eight days, breaking above a critical resistance level as buyers double down. From the daily chart, DIAUSDT is within a bullish breakout formation. Notably, bulls have reversed losses posted in the first half of May 2022.

DIA Technical Analysis

DIA Daily Chart for May 19 The explosion of prices on May 18 served buyers. After sharp losses in the first week of May, the wide-ranging, bullish engulfing bar broke above the middle BB. As it is, the middle BB serves as the immediate support level. Since the trend is clear, traders can search for entries to double down on dips above $0.40 and $0.60 (ideally within May 18). The immediate target will be this week's highs of $1.15 which also flashes with April 2022 highs.

What to Expect?

Crypto prices are bottoming up after worrying dips below Q1 2022 lows from late April 2022. DIA will likely recover above $0.85 and glide to April highs in the days ahead.

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