DIMO crypto rallied by 82% from the day's lows before seeing a 28% pullback, and the CMF showed buying pressure was losing strength.
was in a consolidation phase on the higher timeframes. In the past 24 hours, it managed to jump by nearly 82%, going from $0.122 to $0.227. In recent hours, the price has been forced to drop to $0.163.
This retracement represented a 28% move from the recent highs. In doing so, the $0.18 support zone was ceded. Will the bulls push prices back above this level and resume the upward move?At press time, DIMO crypto was down 28% from the local high of $0.227. The RSI on the 12-hour chart briefly climbed into the overbought territory to reach 78.75 before dropping.
The CMF was at -0.06 and has been below -0.05 for a significant portion of October. This showed that the selling pressure has been dominant, and the price chart of the past two months agrees. The recent surge was an anomaly, for DIMO crypto has traded within a range since June. A move from the range lows at $0.123 to the highs at $0.232 generally takes weeks, like it did in July.Even so, the bulls would hope that they can reclaim the mid-range level at $0.18 as support and consolidate there before the next impulse move.The token saw a decent development score in 2024. The activity was considerably down compared to May 2024 but has been stable since July.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinionAkashnath Sumukar works as a Senior Journalist at AMBCrypto. Based in Chennai, India, he has been an avid follower of the cryptocurrency market since Bitcoin’s boom and bust cycle of 2017. A graduate in Chemical Engineering, he is an expert in technical analysis.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
This Facebook Group Shares Interesting And Unique Facts From All Around The World (82 Posts)These facts will definitely give you some random ideas on how to save your next failing conversation.
Read more »
82 Times People Tried Out 'Stupid' Life Hacks And Realized They Were Actually Pretty UsefulIf it's stupid but it works, it isn't stupid!
Read more »
People Share 82 'Stupid' Life Hacks That Turned Out To Be Great Solutions For Everyday IssuesIf it's stupid but it works, it isn't stupid!
Read more »
Jocelyn Wildenstein, 82, Looks Youthful As She Shares Kiss With Younger Fiancé LloydJocelyn Wildenstein stepped out with her fiancé Lloyd Klein and was pictured sharing a kiss in Paris.
Read more »
Poilievre says Conservatives ‘go around’ Hill media, alleges ‘anti-conservative biasR ...The Hill Times
Read more »
Letters Sept. 28: Behaviour of politicians; where will money come from; free speechWe elect politicians, we get children In Canada and in B.C. we elect our politicians to solve problems.
Read more »