DIA is climbing towards $1 after breaking a long-term resistance, with potential gains of 405% as it targets $4.74659.
A breakout in early 2024 signals a bullish phase for DIA, as it recovers from mid-2023 lows, reaching new highs near $1.
Strong buying momentum and bullish candles suggest DIA could reach $4.74659, with a potential 405% climb from current prices.
The data-driven cryptocurrency DIA is rising and getting closer to $1. The price increase comes after a protracted decline that saw DIA continuously experience lower highs from mid-2021 to mid-2023.
However, the recent breakout from a descending resistance line in early 2024 has shifted market momentum. Consequently, DIA is on a strong climb with potential upside, eyeing a target of $4.74659, representing a possible 405% gain from current levels.
Breakout Marks New Bullish Phase
The DIA's price behavior indicates a robust bounce from its prior lows. Midway through 2023, it established a reversal pattern after reaching a low of roughly $0.1800. Due to a breakout in early 2024, DIA's price increased to about $1.00.
Source: X
Besides, the breakout was accompanied by increased buying pressure, as indicated by strong bullish candles on the chart. This upward momentum signals a potential shift into a new bullish phase.
Moreover, the chart suggests that DIA has overcome previous resistance levels, solidifying the upward trend. The bullish sentiment is further reinforced by the fact that the price is forming higher highs after the breakout. Hence, this could indicate that DIA is well-positioned for further growth.
Potential for Significant Upside
With DIA nearing the $1 mark, analysts see the possibility of the cryptocurrency reaching the $4.74659 target, as highlighted in recent market forecasts. Additionally, the current bullish momentum, coupled with increasing market strength, suggests that a 405% climb remains within reach. This would represent a substantial gain, especially given DIA’s recent price performance.
Furthermore, the chart demonstrates key support and resistance levels, helping traders navigate the market. Significantly, the ongoing rally has broken several long-term resistance points, opening the door for more upside potential. As long as the buying pressure remains strong, DIA can continue its impressive climb.
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