- The Dusk Network token has underperformed since noticing a double top formation near the ATH mark.
- The DUSK token is showing low liquidations these days; Thus, traders saw a 30% drop in trading volume last night.
- The DUSK token belonging to the bitcoin pair is in the 5.3% red zone at 0.0000007138 Satoshis.
The Dusk Network is struggling to survive the pressure of token sales. At the end of 2021, DUSK had a solid bull run to reach an all-time high of $1.17. Midway through the ATH mark, the bears took advantage of the selloff after seeing a double top formation on the daily price chart.
In terms of the daily price chart, the bears have a strong selling point near the descending trendline (dotted white). Recently, the bulls lost the crucial 0.280 defensive zone last night, which had been valid for several weeks.
Over the past 4 weeks, DUSK has continued to note red candles, therefore, it has lost over 42% in cost this month. At the time of writing, DUSK is trading at $0.2833, with the market cap down 2.7% in the last 24 hours according to the CMC. Additionally, the DUSK token belonging to the bitcoin pair is in the 5.3% red zone at 0.0000007138 Satoshis.
The 20 EMA appears to be a resistance zone for the bears for several days. And the remaining essential EMSa such as 50, 100 and 200 are well above the current price of the DUSK token. However, the DUSK token is showing low liquidations these days; Thus, traders saw a 30% drop in trading volume last night.
Technical indicator suggests DUSK weakness
The daily RSI indicator is attempting a recovery after reversing from the start of the oversold zone (30 points). On the other hand, the MACD indicator declined after a bearish crossover.
The Dusk Network token is just above the recovery zone, but bulls see the crypto weak trend to reverse. Thus, any dip could take the price to the conceptual level of $1.0.
The views and opinions expressed by the author, or anyone named in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading crypto assets involves the risk of financial loss.