Will DIA break the downtrend before the end of October?
Long term descending resistance showcases a clear downtrend to DIA (as also can be soon on other oracles, namely ChainLink) which meets a 5 month ascending support whith plenty of retests as pointed with the yellow arrows. With the same sort of time frame there's also an horizontal support with decent relevance.
The latest, in no more than 2 weeks DIA price action will have to break out of this triangle.
If the price breaks down it's uncharted territory which is though to quantify.
When it comes to breaking up there are some interesting levels worth exploring.
- the $0.425 level which would mark the most recent local top
- the $0.50 level which goes back to the previous local top, an important psychological level and a previous support and resistance with considered importance
- the $0.75 level amd the $0.867 level are options but not with as much relevance as the following levels
- the $1 level besided being a great psychological level, have also been an important support in the past, which also coincided wth the top of the triangle making it an interesting target
The latest, in no more than 2 weeks DIA price action will have to break out of this triangle.
If the price breaks down it's uncharted territory which is though to quantify.
When it comes to breaking up there are some interesting levels worth exploring.
- the $0.425 level which would mark the most recent local top
- the $0.50 level which goes back to the previous local top, an important psychological level and a previous support and resistance with considered importance
- the $0.75 level amd the $0.867 level are options but not with as much relevance as the following levels
- the $1 level besided being a great psychological level, have also been an important support in the past, which also coincided wth the top of the triangle making it an interesting target
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