DUSK is up 150% in seven days, then down 35%: check the forecast
Key receivers
DUSK has dropped below $0.2, losing 35% in the last 24 hours.
The coin rose to $0.32 on Monday, a 150% increase in the week.
DUSK cools down following the latest addition
DUSK, the Dusk Network's native coin, has dropped below $0.20, losing more than 35% in value over the past 24 hours. The bearish performance comes after the coin surged 150% in value in just seven days, outpacing major cryptocurrencies.
The information obtained CoinGlass OI futures on the exchange hit a new all-time high of $47.94 million on Monday and hovered around $39 million on Tuesday.
During the same period, OIA on the Binance currency reached $20.54 million, levels not seen since February 2023. A growing OI means that new or additional funds are entering the market, causing the price of DUSK to rise.
According to Sentiment data, the DUSK ecosystem's trading volume reached a new all-time high of $298.43 million on Monday and continued around $264.16 million on Tuesday.
On Monday, Dusk announced a partnership with Chainlink to integrate key standards on DuskEVM. The integration enables cross-chain linking of real-world assets and supports financial applications that comply with real-time, high-fidelity data from the NPEX-backed, fully regulated Dutch stock exchange.
Will DUSK rally to $0.33?
DUSK/USD's 4-hour chart remains bullish and bullish over 24 hours despite a 35% retracement. It is still trading above the weekly resistance level of $0.17, the bulls will defend this level.
If the bulls regain control and DUSK closes the daily candle above the weekly resistance level, it could extend the rally to the December high of $0.33.
The Relative Strength Index (RSI) on the 4-hour chart stands at 74, above the overbought threshold, indicating strong bullish momentum. The Moving Average Convergence Divergence (MACD) also showed a bullish crossover.
However, if the correction continues, DUSK may extend its decline to the 50% price level at $0.18.
