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DAG crypto surged 20% in 24 hours but hit a a Q1 support-cum-resistance at $0.05. Will the uptrend cool-off?
Will the rally stall and trigger a price pullback amid muted market interest?, the self-proclaimed revolutionary in scaling blockchains, jumped 20% on the 18th of November.
At press time, the strong buying pressure witnessed earlier in the week was losing steam, as shown by the long upper candlestick wick; what’s next for DAG?On the daily price charts, buyers’ exhaustion was evident at the time of writing, as seen by a slight price rejection at the Q1 2024 support level of $0.05.If a similar scenario occurs again in November, DAG could retreat to $0.04 or $0.035, key support levels that eased the May price pullback.
If so, late bulls could seek market re-entry at the aforementioned levels, eyeing the $0.05 roadblock or the upper resistance level at $0.07.DAG’s network activity surgedThe price rally seen in the past week was also marked by a spike in network activity. The number of active addresses surged nearly doubled, but was way too small .
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