DENT Price Analysis: Will DENT Price Be Able To Make A Dent In Crypto Verse?

DENT price about to make in the crypto world
  • DENT price has seen a gain of 1.1% in the 24-hour time frame. Meanwhile, the DENT/BTC pair sees a consolidated  momentum with an increase of 0.28%.
  • DENT has introduced a platform where users can buy,sell or donate their data . In contrast, it has seen a gain of more than 1710187% from the start of the year.

DENT is currently ranked 65th, with a market capitalization of $1,838,805,979.The volume ($538,388,592) of the coin has an increase of 18.37% in the 24-hour time frame. The volume to Market capitalization ratio for the coin is 0.323. If the ratio goes above 0.8, then a buying rush can be seen. Dent price forecast a massive growth in upcoming days.

Why to Invest in DENT Coin?

DENT is a block chain-based platform which wants users to control their data and share unused data. It was launched in 2014 with the headquarters in hong kong. The main strategic plan of the the platform is to gather users on their community and make them use their product through their Dent exchange.According to their website they claim to have more than 20million users in more than 80 countries.In another post the company claims to be optimizing the network connectivity for the Tokyo summer olympics. Dent leverages the telecom operators which pushed their esim and community to grow exponentially.Dent has also seen an unprecedented growth from the start of this year due to its strong fundamental.On a overall scenario DENT has been profitable to the investors and can continue to do the same. 

Technical Indicators Projects A Bullish Momentum For DENT Price

Source:Trading view
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The weekly technical chart for DENT showcases a bullish momentum.DENT price is showing signs of bullish momentum on coming to the daily chart.Its price is trading above 50 and 100 Moving Average. The 50MA price is at $0.0059, making it temporary support for the coin. The coin’s resistance on the upside will be at $0.0225, and on the downside, it will see a bounce back from $0.017. DENT price is currently inside the parallel channel on the daily chart.If the price breaks 10% above the parallel channel then a strong bullish momentum upto the point of $0.025 can be seen.

RSI(Bearish): It is currently trailing at 88.1, showcasing its presence in the overbought zone. There is negative slope formation in RSI, which suggests bearish momentum. The overall sentiment of the RSI is bearish.

Conclusion

DENT price projects an uptrend for upcoming months. Dent unique concept of sharing the unused data has gathered the interest of investors.The DENT/BTC pair can also see a bullish move. An Investor should do their due diligence before investing.

Technical Levels

Major Support:$0.017

Major Resistance:$0.0225

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Adarsh Singhhttp://www.thecoinrepublic.com
Adarsh singh is an Stock market and financial market advisor trader with background in Engineering. He specialises in Technical Analysis while possessing strong computational skills.

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