๐ Exciting Developments in $DYM !
Will We See Double Digits? ๐
In just under a week, Dymension has captivated the attention of market participants, fueling ongoing momentum. Despite a previous climb where the DYM price faltered below $8, this level now stands as a crucial resistance to overcome.
Technically speaking, conditions are ripe for a healthy upswing, provided the bears remain subdued for a spell.
Currently, bullish forces are at play, hinting at the potential for fresh highs in the days ahead. Trading within a bullish ascending triangle, the price encounters minor setbacks before reaching the apex, suggesting not a bearish retreat but rather an opportunity to gather strength before the next bullish surge.
Why the optimism for DYM? Could we see double digits this month?
Despite lingering bearish sentiment, DYM remains within an upward trend. Short-term indicators like the RSI teeter around average levels, poised for a bullish divergence.
Meanwhile, the DMI, a gauge of trend strength, offers no firm bullish signals yet. The ADX may rebound bullishly, and the +Di & -Di convergence hints at forthcoming price action.
While bears strive to breach the rising trendline, a potential rebound in the RSI could provide them temporary reprieve before encountering support.
DYM has hovered around the Potential Reversal Zone (PRZ) near $7.5, with a breakthrough above $7.8 signaling a path towards double-digit territory by month-end. ๐ฏ๐ก
