DUSK Update January 21: Correction Completed?
The price of DUSK corrected to ~$0.2285 before bouncing back to $0.233 (+2%). Is this the beginning of a new upward wave or just a minor bounce?
🧠 Technical Facts:
➡️Trigger for Bounce: Price approaching EMA(50) 1H & support $0.225 + high negative funding rate (-0.0927%) → potential short squeeze.
➡️Structure: Still **Higher High & Higher Low** (TF 4H/1D) – correction within an uptrend.
➡️Momentum: RSI 1H (~54) vs RSI 4H (~63) – upward momentum in smaller TF, not yet confirming breakout.
➡️Derivatives: Long/Short Ratio Taker 1.72 (TF 15m) + high Open Interest (~$82.9M) – fuel available.
🎯 Crucial Levels:
🔺Resistance (Sell Zone / TP): $0.245 – $0.248
🔻Support (Buy Zone): $0.225 – $0.218
⚡Invalidation: Break & hold < $0.208 (change bias)
💡 Simple Strategy:
1️⃣DO NOT FOMO BUY at $0.233+. Rally has not yet confirmed strongly.
2️⃣WAIT for the price to drop to buy zone $0.225–$0.218 **OR** a strong break above $0.248.
3️⃣CONFIRMATION: Look for signs of rebound (bullish candle, rising volume) in the support zone for LONG.
4️⃣Target: Rise to $0.245 → $0.291.
⏳ Timeline: Correction may continue 12–24 hours. Reaction at $0.225 will determine direction for the next 1–3 days.
✅ Takeaway: This bounce is not yet a strong buy signal. Be patient and wait for the price to reach the accumulation zone or confirm breakout.
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👉 Current Condition: NO TRADE. Wait for setup at $0.225–$0.218 for LONG, or break & close >$0.248 for momentum confirmation.