district0x Price Prediction 2021 – Will DNT Hit $1 Soon?
- Bullish district0x price prediction ranges from $0.29 to $0.4.
- district0x prices might also reach $1 soon.
- DNT bearish market price prediction for 2021 is $0.1027.
In district0x (DNT) price prediction 2021, we use statistics, price patterns, RSI, and much other information about DNT to analyze the future movement of the cryptocurrency.
district0x is a platform that enables users to launch their own decentralized platforms easily which is governed by decentralized autonomous organization (DAO) structure. Moreover, each platform is termed as “district” and can be released free of charge on the district0x.
Moreover, the ecosystem is based on the custom d0xINFRA framework, which offers a set of basic smart contracts and libraries users can utilize when creating out the districts allowing a wide array of potential use-cases.
More so, the DNT is the native token of district0x ecosystem. The DNT is an ERC-20 utility token which is mostly utilized for the governance of a community. In addition, the platform utilized a combination of three main technologies, they include Ethereum, Aragon, and the InterPlanetary File Transfer Protocol (IPFS).
Even more, the Ethereum blockchain is utilized for hosting districts, whereas Aragon is used as the governance layer for the district0x network, enabling the DNT stakers to benefit from governance rights. Also, help shape the development and operation of their chosen districts. Lastly, IPFS is utilized for serving the district0x website source code and for user uploads within districts.
Let us see about the district0x price prediction 2021.
Current Market Status of district0x (DNT)
According to CoinGecko, the district0x price is trading at $0.196 with a 24-hour trading volume of $29,786,603, at the time of writing. However, district0x has increased by 8.35% in the last 24 hours.
Currently, district0x trades in cryptocurrency exchanges such as Binance, ZT, HitBTC, Hotcoin Global, and Coinbase Exchange.
district0x (DNT) Price Prediction 2021
district0x (DNT) holds the 346th position on CoinGecko right now. district0x price prediction 2021 explained below with a daily time frame.
Ascending channel pattern, developed from two uptrend lines drawn above and below a price representing resistance and support level. An ascending channel pattern is the opposite of the descending channel.
A breakout above the upper trend line indicates a strong buy signal, while a break down below the lower trend line generates a strong sell sign. Ascending channels often emerge within an overall downtrend in prices and represent neither a continuation of the trend nor a reversal of the trend.
In the daily time frame chart, it is possible for the DNT to reach $1.01 if the bull trend continues. Or else, it will fall to the next support level at $0.09. So, the trend of the DNT is based on the breakout.
district0x (DNT) Support and Resistance Level
The DNTow chart shows the support and resistance level of district0x (DNT).
From the above chart, it is considered that the following are the resistance and support levels of district0x (DNT).
- Resistance Level 1 – $0.29
- Resistance Level 2 – $0.4
- Support Level 1 – $0.1
- Support Level 2 – $0.03
The chart depicts the bullish performance of district0x over the previous month. However, the trend will continue to reach a resistance level at $0.4 soon. Even more, if the trend reversed the district0x might fall to $0.1 presenting a bearish signal.
district0x (DNT) Average Directional Index (ADX)
Let us now look at district0x’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).
Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it is frequently combined with directional indicators.
The above chart represents the ADX of district0x. Currently, district0x lies in the range at 40.11, so it indicates a strong trend. This shows that the price of ADX can go bullish in the future.
Conclusion
district0x is one of the cryptos which is great for long-term investment. In addition, district0x price prediction is bullish for the short term. It has a good chance of reaching $0.4 by the end of this year. However, this will only happen if many previous psychological barriers are broken.
Furthermore, with the advancements and upgrades on the district0x ecosystem, the performance of district0x would rise reaching $0.5 very soon. But, it might also reach $1 if the investors believe that district0x is a good investment in 2021.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
