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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XRP Short Term Outlook - Double Top Confirmed?

XRP Completes Double Top With Lower High

XRP starts the month of December 2020 with a confirmation of a lower high indicated by point 2 on the chart. Note that the price dipped down to the 50-day EMA, previously wicking down below the line. This could be indicative of a further drop in price.

The stochastic looks weak, with downward momentum that could be the beginning of the correction cycle. The On-Balance Volume looks relatively stable, not showing any significant dumping. But we are still in the early stages of this movement, so it is not possible to to determine if a dump will be incoming.

The volume profile shows possible price targets indicated by the arrows. If downward momentum keeps up, these price targets could get realized. Depending on what happens with BTC, further downward movement could be coming as we move into the month.

Carlton Flowers
The CryptoPro

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XRP Short Term Outlook - Possible Price Targets

XRP Corrects While BTC Takes Break

The short-term outlook shows a slight decline in price while overall XRP looks more bullish than it has since the 2018 run. As the volume profile shows 3 definite clusters peaking at 0.30, 0.286, and 0.272 as indicated on the chart. These are possible price targets for the next few days as BTC takes a breather. There is always the possibility of settling back down to the current POC (point of control) price at 0.25 (red arrow).

The on-balance volume shows a lot of heavy distribution since the recent peak. Profit taking looks strong, but the OBV does appear to have settled down at the previous level which is a good thing. The stochastic is weak, and currently shows a possibility of continued downward movement.

If the next surge in Bitcoin takes it to the all-time high of $20,000, we could see a surge back towards 0.30 or higher. But it could also spark movement away from XRP and into BTC. I’m waiting and watching, taking note of when the next big correction takes place to time another buy.

Once we hit the final BTC correction, which in my opinion could happen at any time OR if and when BTC reaches $20k, I’m looking for a strong correction across the board in the alt market. Once the alts settle down from the current surge, this could be the final major correction before an “alt season” starts.

I am definitely waiting on the sidelines not placing any buy orders until we see that correction take place, although there is no guarantee that it will happen. Until it is clear, I’m taking a cautious stance to maximize my own accumulation before the next surge sets in.

Carlton Flowers
The CryptoPro

Earn FREE Tokens on Coinbase!
CLICK HERE for the Compound (COMP) tutorial
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Visit the CryptoPro YouTube channel here by clicking the link or image below!

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DISCLAIMER

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MATIC 1-Day Chart Technical Analysis

OVERALL STRENGTH INDICATED BY IMPRESSIVE OBV

Okay folks, let’s take a look at the MATIC 1-day candlestick chart provided by TradingView this morning. I see some very positive indications on this chart of great things to come.

First off, I like the long-term accumulation shown on the OBV. This is not always 100%, but it is often accurate. What this nice rise and then steady holding line means is that institutional buyers are holding this and stacking.

Current trading price is exactly at the Point-of-Control on the D-shaped Volume Profile. A D-shape on the volume profile is indicative of a well-balanced state of trading. If a strong correction across the crypto market were to occur, 0.015 looks like a possible settling point as we see the strong bar at that price per the volume profile.

But the stochastic is poised to rise, as it is just now shooting out of the oversold zone, with a nice positive trajectory. That means the probability of a price hike is fairly high, as opposed to a dip down to previous levels. Whatever the case, the future is looking bright for this project as per the chart.

I will have to look into grabbing a bag of MATIC. If I do, you’ll get a special report on the next “I Got A Bag!” video on the YouTube channel.

Carlton Flowers
The CryptoPro

NOT FINANCIAL ADVICE - Entertainment purposes only. Seek a qualified investment advisor before making any decisions on purchasing cryptocurrencies.

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District0X (DNT) 4-Hour Technical Analysis

DNT HARD CORRECTION - LANDING SPOT POSSIBILITIES

District0X is experiencing the same corrective move that is playing out across the entire crypto market. My eyes are focused on two possible landing points after the correction has finalized. Let's take a look on the chart provided by TradingView.

As we can clearly see, the upward trending green base line has been broken. The price line took a small bounce on the magical 4.618 fib circle ring before going lower, and is now deciding how much time, if any, to spend while sitting on the 4.236 ring. We can see that the 200-day EMA is just below the ring, where the price is now sitting.

This is looking like the beginning of a bearish micro movement, as the price line is well below the 50-day EMA and ready to violate the 200-day EMA. From what I can see, DNT is sitting at a decision point right now. It will either gather strength and find the current 0.0133 level as the new base, or fall below to the 3.618 mystical fib circle boundary line. Such a fall would bring a price of around 0.011.

Depending on the severity of the BTC correction, this might not be the final resting place before the next leg up. DNT could correct all the way down to the lower green support line, with a price in the 0.008 to 0.009 range. This would be a tremendous buying opportunity, in my opinion. But don’t listen to me, and end up in the food line next week.

The stochastic is already in the oversold zone. But it looks to have more downward momentum, as the fast line has again crossed over the slow line, sending us back in the downward direction. The stochastic could languish down here for quite a bit of time, as we have seen the weak indecisive bobbling around at the 20% boundary line already.

If volume starts to weaken, or if big fat red volume candles start to develop, I think the 3.618 is going to have a high probability as a landing point, with medium probability of falling farther down to the primary green base line. Keep your eyes on this.

Carlton Flowers
The CryptoPro

NOT FINANCIAL ADVICE - Entertainment purposes only. Seek a qualified investment advisor before making any decisions on purchasing cryptocurrencies.

MY LINKS:
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OXT 4-Hour TA

New project on the watch list! OXT is of course a high quality crypto project that is listed on CoinBase. We just watched it 5X within the last month, surging from 0.20 to ONE DOLLAR. The correctoin has brought it back down to a stable base of about 0.43.

Volume is quieting down, and the stochastic is set to move up. It just dipped down well below the oversold boundary, and is on its way up. But the fast and slow lines are about to cross, which indicates another possible dip. This can pump 5X again right from where it is now. I'm adding a bag, to say the least.

OXT is a solid project based on leveraging bandwidth sharing. It’s a simple and fundamental idea that can help make internet access more efficient. Being that this project is traded on CoinBase Pro, it gets first priority for immediate trading.

Carlton Flowers
The CryptoPro

NOT FINANCIAL ADVICE - Entertainment purposes only. Seek a qualified investment advisor before making any decisions on purchasing cryptocurrencies.

MY LINKS:
www.carltonzone.com/cryptopro
Telegram Group - https://t.me/cryptoprocarlton
https://www.tradingview.com/u/carltonzone/