For the investors that have stuck with Dent and dYdX for a while, it is good news that their wait for bullish gains is finally over. Both cryptocurrencies are currently experiencing bullish trends and their prices are moving in the upper direction.
Let us see how well Dent and dYdX have performed in the past 24-hours, and what the analysts are expecting from them going forward.
If we look at the price of Dent before the rally took place, it was at a low of $0.002794 per DENT. The bears tried maintaining their selling superiority over the bulls but the bulls had something else brewing for them.
Instead of letting the bears keep the charge of Dent’s trend, the bulls fought back and launched a 14.98% rally. Due to the strong rally, the bulls have now brought the value of Dent to a high mark ($0.003710). This is a strong move by Dent bulls, given its past performance, which was mainly bearish.
If the bullish sentiments stay put, they may become the reason for more investors investing in Dent. This would work very positively in favor of Dent, as it may push its price to a high of $0.004064 per DENT.
If the investors try and compete with the bulls in acquiring more Dent, then its price may shoot up to $0.004311 per DENT.
dYdX investors have been demonstrating strong sentiments and they are aiming to carry the bullish trend for a longer period of time. This is the reason why the buyers have launched a strong 14.47% rally, pushing dYdX to a high of $7.00 per DYDX.
Before the rally was formed and the investors started marching in the positive zone, dYdX’s value was at $5.33 per DYDX. Since the rally has kicked in, all factors for dYdX are moving in the positive territory. It is being predicted that the RSI for dYdX may soon walk into the positive zone.
This would push the price of dYdX to a high of $7.35 per DYDX. Going forward, the investors may aim to increase their contribution in running the strong trend, which may lead to dYdX hitting $7.80 per DYDX.
As the situation keeps becoming clearer for the investors and they continue observing it growing more bullish, then more investments would find their way to a strong push. This would result in pushing the price of dYdX to a much higher milestone than the $7.80 one.
The next high price that the bulls may try to hit would be $8.02 per DYDX and crossing this would open the door to the resistance area. Therefore, the bulls will need to increase their buying force to achieve that.