DAR/USDT Daily Time Frame - Attempting to Break the Downtrend
TradingView community,
In a follow-up to our earlier analysis on the DAR/USDT trading pair, I'd like to provide an update on the daily time frame. As the price is currently attempting to break out of the downtrend, this could serve as a sign for activating the W-shape pattern discussed earlier.
If DAR successfully breaks through the downtrend line, this would signal a potential bullish reversal and reinforce the W-shape pattern's validity. The breakout would then pave the way for the price to target the previously mentioned levels.
To recap, the initial target for DAR after the breakout and activation of the W-shape pattern is $0.262. If the bullish momentum continues, the price may aim to surpass the recent daily major swing high of $0.33.
Upon reaching the $0.33 area, DAR might experience some resistance and may require a stable price action before attempting to move higher. If the bullish momentum persists, we could see DAR reaching for the $0.35 to $0.60 range.
It's essential to monitor the price action closely to confirm the breakout of the downtrend line. Additionally, it's crucial to keep an eye on market conditions and use proper risk management strategies, as other factors may impact the price movement of DAR.
In a follow-up to our earlier analysis on the DAR/USDT trading pair, I'd like to provide an update on the daily time frame. As the price is currently attempting to break out of the downtrend, this could serve as a sign for activating the W-shape pattern discussed earlier.
If DAR successfully breaks through the downtrend line, this would signal a potential bullish reversal and reinforce the W-shape pattern's validity. The breakout would then pave the way for the price to target the previously mentioned levels.
To recap, the initial target for DAR after the breakout and activation of the W-shape pattern is $0.262. If the bullish momentum continues, the price may aim to surpass the recent daily major swing high of $0.33.
Upon reaching the $0.33 area, DAR might experience some resistance and may require a stable price action before attempting to move higher. If the bullish momentum persists, we could see DAR reaching for the $0.35 to $0.60 range.
It's essential to monitor the price action closely to confirm the breakout of the downtrend line. Additionally, it's crucial to keep an eye on market conditions and use proper risk management strategies, as other factors may impact the price movement of DAR.