DESO on the move?In our previous idea on DESO we showed that there was a bullish wedge pattern forming.
That pattern broke out to the upside yesterday however the trading today has negated almost the entire move up.
This has lead to the potential formation of rising channel on this coin. Marketcap for DESO has gone from $100M (at the time of previous idea) to $120M which shows 20% growth however in crypto markets in general and for this kind of project in particular, this move shows that there is a lot of room for growth and we have only seen fraction of it.
We still expect this to be a MUN:10B blockchain at the peak of bull market, i.e., 100x growth but we will have to wait an see how it pans out.
Note: This is not financial advise and should only be used for educational or entertainment purpose.
Desousdsignals
DESOUSD Bullish and bearish levels with the 1D MA50 supportingDecentralized Social (DESOUSD) has caught my attention ever since the 99.500 Double Top on March 28. That was a rejection on the previous High of January 24 and ever since I've been waiting for a clearer set-up.
On April 09, the price stopped correcting and started to rebound (3 straight green 1D candles including today's) right before touching the 1D MA50 (blue trend-line). That is the first bullish sign in the past 2 weeks.
With the price on a Channel Down and the Lower Lows supporting, the bullish signal would be completed if DESO breaks above the Channel and the previous Lower High of 59.000. We'll treat that as an instant bullish break-out signal aimed at 99.500. On the other hand, a break below the Lower Lows will be treated as a bearish break-out signal targeting the 27.900 Support.
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