DENT-Tokenizing the Telco World- Should we be paying attention?
Updated
Recent gains have bought Dent to the attention of the wider Crypto Community.
Relatively flat trading preceded this recent surge but some partnerships and positive press seems to be steadily increasing the move into the project.
Early investors would be glad to see this sudden spike while those that have missed this latest pump may be looking for an entry.
Personally I'm cautious of these dramatic daily pumps due to the large contingent of Crypto Pump Groups emerging on the scene at present but the PA seems to correspond with recent announcements so it may be a case of "buy the rumour"
The project has a solid real world use-case so may be one to take a position and pack away for the future.
Looking at the chart-
1hr candles used here which isn't ideal but lack of historic PA at current level leaves us a bit in limbo charting this.
Currently in no mans land in relation to resistance and support in this descending channel so ideally we will have a better idea within the next few hours.
- Personally I'm looking for some form of stability and support on the hourly chart at current price (0.0007200) but it does seem somewhat weak.
A loss of support would bring lower entries into play and may provoke buyers to the table while a break or break retest of current downtrend may also signify a buy signal.
I'm cautious of this one and ready to close my position if I get the yips about the PA but the gambler in me wants to just let it ride.
As always, not financial advice,
Just my own thoughts and TA - DYOR!
Feedback Welcomed!
Bingaz
Relatively flat trading preceded this recent surge but some partnerships and positive press seems to be steadily increasing the move into the project.
Early investors would be glad to see this sudden spike while those that have missed this latest pump may be looking for an entry.
Personally I'm cautious of these dramatic daily pumps due to the large contingent of Crypto Pump Groups emerging on the scene at present but the PA seems to correspond with recent announcements so it may be a case of "buy the rumour"
The project has a solid real world use-case so may be one to take a position and pack away for the future.
Looking at the chart-
1hr candles used here which isn't ideal but lack of historic PA at current level leaves us a bit in limbo charting this.
Currently in no mans land in relation to resistance and support in this descending channel so ideally we will have a better idea within the next few hours.
- Personally I'm looking for some form of stability and support on the hourly chart at current price (0.0007200) but it does seem somewhat weak.
A loss of support would bring lower entries into play and may provoke buyers to the table while a break or break retest of current downtrend may also signify a buy signal.
I'm cautious of this one and ready to close my position if I get the yips about the PA but the gambler in me wants to just let it ride.
As always, not financial advice,
Just my own thoughts and TA - DYOR!
Feedback Welcomed!
Bingaz
Note
Has broken from downtrend. Not a great deal of volume just yet so retest break price is a possibility. Hoping for a push North shortly.Note
"Should we be paying attention?" - Fark yes!
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