$NIL
Recently I’ve been pushing Encrypted Markets and Covenants. Dusk plans to launch on the Ethereum mainnet in the first week of October. The narrative is still there, but more of the move is driven by what the chart does itself.
First, let’s look at the structure: the recent low is around 0.06738, which held and stopped the drop. Then there was a breakout with strong volume that swept upward. The 24h high was tagged at 0.08750, and now it has pulled back to around 0.081.
Overall, it’s still making higher highs and higher lows. However, that 0.0875 wick was clearly slammed back down, and momentum in the short term looks a bit exhausted.
Key support to watch:
- Near-term 0.078–0.075 (a previous small consolidation)
- Next lower at 0.072
- The strongest support is that 0.0674 low; if that breaks the structure changes
Resistance:
- Near-term 0.083–0.085
- The key is still the previous high at 0.0875
- Only after breaking it will there be a chance to look toward 0.094
My personal plan: go long.
Entry: scale in within 0.076–0.078
Stop loss: below 0.067
Take profit: first target around 0.0875—reduce there; second target 0.094–0.096. If it goes farther, leave a small portion to try for 0.11.
If 0.075 can’t be held and it directly breaks through 0.067, then this long setup is invalid—don’t fight it.
For the short term, first see whether the pullback can be accepted/held. If it holds, follow along; if it doesn’t, stay on the sidelines.
Not financial advice—manage your own risk and position sizing.
Recently I’ve been pushing Encrypted Markets and Covenants. Dusk plans to launch on the Ethereum mainnet in the first week of October. The narrative is still there, but more of the move is driven by what the chart does itself.
First, let’s look at the structure: the recent low is around 0.06738, which held and stopped the drop. Then there was a breakout with strong volume that swept upward. The 24h high was tagged at 0.08750, and now it has pulled back to around 0.081.
Overall, it’s still making higher highs and higher lows. However, that 0.0875 wick was clearly slammed back down, and momentum in the short term looks a bit exhausted.
Key support to watch:
- Near-term 0.078–0.075 (a previous small consolidation)
- Next lower at 0.072
- The strongest support is that 0.0674 low; if that breaks the structure changes
Resistance:
- Near-term 0.083–0.085
- The key is still the previous high at 0.0875
- Only after breaking it will there be a chance to look toward 0.094
My personal plan: go long.
Entry: scale in within 0.076–0.078
Stop loss: below 0.067
Take profit: first target around 0.0875—reduce there; second target 0.094–0.096. If it goes farther, leave a small portion to try for 0.11.
If 0.075 can’t be held and it directly breaks through 0.067, then this long setup is invalid—don’t fight it.
For the short term, first see whether the pullback can be accepted/held. If it holds, follow along; if it doesn’t, stay on the sidelines.
Not financial advice—manage your own risk and position sizing.