The DAR asset shows an interesting picture on the daily chart, which may be of interest to traders and investors. Let's take a closer look at the situation, taking into account technical analysis and key levels. 🐕
Technical analysis:
Moving Averages (MA):
The 7-day MA is at $0.147, showing short-term support.
The 25-day MA is higher at $0.153, confirming the uptrend in the medium term.
The 99-day MA at $0.148 signals long-term support and an important trend-defining level.
Bollinger Bands (BB):
The indicator's boundaries are narrowing, indicating a decrease in volatility, but a significant price impulse is possible. The upper boundary is at $0.195, and the lower one is at $0.116. 🐕🦺
Ichimoku indicator:
The Kijun (main) line is at $0.160 and the Tenkan at $0.187, which signals a balance between supply and demand. The Ichimoku (Kumo) cloud is quite thin, which may indicate the possibility of a breakout to the upside or downside. The Kumo resistance level at $0.187 is important to determine further movement. 📈
Parabolic SAR:
The SAR indicator at $0.123 suggests that the trend is still up, but approaching critical levels. Watch this indicator for confirmation of trend changes.
Trend line:
The chart shows an ascending trend line that starts in May. The price is holding above this line, which also confirms the bullish sentiment. If the trend line is broken, a downward momentum can be expected. 🐕🦺
Key levels:
Support: $0.160, $0.154, and $0.123 are support levels that may hold back the price decline.
Resistance: $0.192 and $0.220 are important resistance levels. A break above $0.220 could lead to stronger bullish momentum.
Conclusion:
DAR is showing stable support and short-term bullish signs. The current consolidation could be setting up a strong move in both directions. Watch the key levels of $0.160 and $0.220, as well as the Bollinger Bands squeeze for direction confirmation. 🐶💪
Recommendations:
Traders should closely monitor the breakout of critical levels and, depending on this, make a decision to enter or exit a position. Caution and a clear understanding of the risk are important in such situations!
