DUSK dips 35% after surging 150% in seven days: Check forecast
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.
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.
