DNT District0X Continues Consolidation Sidebanding - Breakout Soon?

DNT Stays Above Base, Coils Up for Next Move

District0X has been side-banding for almost a month after the big breakout to 0.08. With trading activity staying between the slim channel centered around the POC price of $0.05, we can expect a breakout the longer the consolidation continues.

Right now there are two volume nodes appearing slightly above and below the POC price that could be possible landing spots, the lower coming into play if DNT violates the base just below five cents. With the stochastic looking like it has finished a peak and currently falling, a correction might come into play if BTC has a breakout surge or finally completes its own correction cycle.

The On-Balance Volume shows a lot of distribution since the breakout with an overall steady decline that has only recently leveled out. This is one bit of evidence that might support a final correction move before DNT takes the next leg up. But anything is possible, so we have to watch the price action and see if it can break the resistance at $0.063 before we can be sure of a breakout to the up side.

Carlton Flowers
The CryptoPro

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