DMM Governance Token vs USD

Little to no history on this DeFi project. However for such a small market capital there’s a surprising amount of volume changing hands.

Facts on the technical:

1) Following a 70% correction in price action, RSI was oversold (orange columns) and has now broken trend line resistance.

2) Regular bullish divergence. Falling price action diverges with rising MFI = bullish. The Divergence is also noticeable on the Bitcoin chart pair.

3) Price action is below all the major moving averages, excellent. Always buy low.

Buy low sell high, right now price action has collapsed 70% with the alt-coin market correction. The lack of history means risk is greater, so I’d not expose more than 1-2% of my portfolio.

Comment:

Divergence is confirmed. On the daily this is what a perfect buying opportunity looks like. Oversold oscillators and rising price action. Probability of a good return following the oversold area (orange column) is now very high.

Now the difficult part, waiting for the overbought green column. Patience!

Trade active:

higher low -

Trade active:

Looking a lot better now, Stochastic RSI sharply crossing up 20 following the oversold condition (orange).