Hello, no typos on this post I promise. ;)
Dusk Network is in what looks like the beginning of a nice uptrend, with resistances at 700, 800 and 925 sats respectively. After observing the order books and the coin's behavior in the last 2 days, I'm confident a rise is imminent, if bitcoin doesn't dump in the following days.
The coin is part of a conference in the 14th of November, however I don't expect big news to come out. I'm bullish due to the fact that this alt hasn't pumped yet like many other alts after losing most of its value, and because the chart shows a good setup.
The main downside of this coin its its relatively low volume (around 120btc right now), making it somewhat tricky to set up effective stop-losses. I recommend a trailing stop-loss as exit strategy, setting it below every resistance as Dusk breaks and retests them.
Good luck.
Dusk Network is in what looks like the beginning of a nice uptrend, with resistances at 700, 800 and 925 sats respectively. After observing the order books and the coin's behavior in the last 2 days, I'm confident a rise is imminent, if bitcoin doesn't dump in the following days.
The coin is part of a conference in the 14th of November, however I don't expect big news to come out. I'm bullish due to the fact that this alt hasn't pumped yet like many other alts after losing most of its value, and because the chart shows a good setup.
The main downside of this coin its its relatively low volume (around 120btc right now), making it somewhat tricky to set up effective stop-losses. I recommend a trailing stop-loss as exit strategy, setting it below every resistance as Dusk breaks and retests them.
Good luck.
Note
Some news about Dusk: Tesnet V2 is almost completed and should be released soon. This coincides with the unlocking of their marketing money, in other words, they should now start a marketing campaign. Source: Dusk's website.
Also private token release should end in about 2-3 weeks, which may cause some additional supply. However, I expect this coin to receive more attention from now on.
Also this last bit is pure speculation, but there's always the possibility that it gets listed on KuCoin after the 14th conference.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.