:
$DENT explosive rally to 0.00044, the market corrected and is now moving inside a rising channel. Price is currently around 0.00029, sitting near the 0.236 Fibonacci level (~0.000281) and just above the lower boundary of the ascending channel.
• Clear higher lows along the rising trendline
• Strong reaction previously from the 0.000249 base (0.0 Fib)
• Heavy supply sitting between 0.000316 (0.5) and 0.000354 (0.786)
• Current pullback looks controlled, not aggressive
Right now this is a healthy retracement inside an uptrend structure.
If the lower channel and 0.00028 zone hold, a bounce toward 0.000316 is technically the first logical move. Above 0.000316, the next resistance cluster sits around 0.00033–0.00035.
However, if price breaks below the channel and loses 0.000249 decisively, then this turns into a deeper correction and the bullish structure weakens.
• Clear higher lows along the rising trendline
• Strong reaction previously from the 0.000249 base (0.0 Fib)
• Heavy supply sitting between 0.000316 (0.5) and 0.000354 (0.786)
• Current pullback looks controlled, not aggressive
Right now this is a healthy retracement inside an uptrend structure.
If the lower channel and 0.00028 zone hold, a bounce toward 0.000316 is technically the first logical move. Above 0.000316, the next resistance cluster sits around 0.00033–0.00035.
However, if price breaks below the channel and loses 0.000249 decisively, then this turns into a deeper correction and the bullish structure weakens.
