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DarkNote Price Technical Analysis – False Spike?

Aayush Jindal
Aayush Jindal
9 years ago
2 mins read
DarkNote Price Technical Analysis – False Spike.

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DarkNote Price Key Highlights

  • DarkNote price spiked down sharply to weaken by around 40% before recovering sharply.
  • The price is back towards the last swing high of 0.00000088BTC and looks set for more gains.
  • The price is now trading above the 100 hourly simple moving average, which is might help it in the near term.

DarkNote price after a false break continued to trade higher and looks set for more upsides moving ahead.

Risk of More Downsides?

We highlighted yesterday that the price was struggling to hold an important support near 0.00000078BTC. The result was a sharp move down, which weakened the price by more than 40%. However, it can be seen as a false break, as the price was back up within a couple of hours to trade where it was before moving down. The price traded as low as 0.000000426BTC before trading higher.

DarkNote

The upside reaction was nasty, as the price is now trading above the 100 hourly simple moving average. It is now heading towards the last swing high of 0.00000089BTC, and might test the all-important 0.00000090BTC. Let us see how sellers react around the mentioned resistance area, and whether it can clear it for a new weekly high or not. There is now a bullish trend line formed on the hourly chart, which might act as catalyst for a move higher. As long as the price is above the highlighted trend line and support area, more upsides are possible. The next level of interest in that situation could be around 0.00000095BTC.

On the downside, the 100 hourly SMA is a crucial barrier for sellers. If they manage to clear it, more losses are likely moving ahead.

Intraday Support Level – 0.00000082BTC

Intraday Resistance Level – 0.00000090BTC

The hourly RSI is in the bullish zone, and suggesting more gains ahead.

 

Charts courtesy of Trading View

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

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From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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