DarkNote Price Technical Analysis – Perfect Buying Conditions?

Aayush Jindal

Last Updated: April 6, 2018 9:28 am

2 mins read

DarkNote Price Technical Analysis – Bullish Formation.

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

DarkNote Price Key Highlights

DarkNote price tested a buy zone, which we highlighted in yesterday’s technical analysis.
The price is struggling to hold ground as sellers remained in control, creating a risk of a break below 0.00000078BTC.
The price has moved below the 100 hourly simple moving average, which is warning sign in the short term.

DarkNote price looks like at a risk of more losses, but as long as it is above the broken trend line there is a hope.

Risk of More Downsides?

The DarkNote price continued to move down after testing a major swing area of 0.00000090BTC and completing a bullish outside bar candle pattern. We highlighted yesterday that the price might find support near a critical area of 0.00000078BTC, as it coincides with the 50% Fib retracement level of the last wave from the 0.00000068BTC low to 0.00000089BTC high. However, it looks like buyers are struggling to hold the ground and protect the mentioned support area.

The price has moved below the 100 hourly simple moving average, which is a bearish sign in the near term. It can also be seen from the charts that the price is struggling to find buyers around 0.00000078BTC. There is a broken bearish trend line, which is acting as a hurdle for sellers. A break below it might call for more losses moving ahead, and could take the price towards the 76.4% Fib retracement level. Any further losses may push the price towards the last swing low of 0.00000068BTC where buyers might take a stand.

On the upside, the 100 hourly SMA might act as a barrier and stall gains. If buyers succeed in breaking the same, then we might witness a nice bullish wave moving ahead.

Intraday Support Level – 0.00000078BTC

Intraday Resistance Level – 0.00000081BTC

The hourly RSI is in the oversold area, suggesting a recovery is possible.

Charts courtesy of Trading View

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.