DNT crypto breaks 900-day resistance, registers over 80% gains
- district0x (DNT) crypto nearly doubled in price on Nov 17th owing to large purchases by Whales.
- DNT crypto is the utility token of district0x that allows users to easily launch their own decentralized platforms which are governed by a DAO structure.
- DNT crypto as on 17 November was trading at $0.064103 with a 24-hour trading volume of $2,80,09,560, according to CoinMarketCap.
DNT crypto which is a utility token of district0x platform, finally broke its 900-day resistance trend on 17 November. This has resulted in the token registering gains of over 80% with market participants on going on a major buying spree. The cryptocurrency landscape has been on a bullish trend of late with the overall marketcap touching $3.11 trillion, which is collectively greater than that of Canada and France.
DNT is the cryptocurrency of the district0x platform, a network of decentralized marketplaces and communities called districts. DNT is an ERC-20 utility token that allows users to participate in the governance of the platform and influence the future of marketplaces. Built on the Ethereum blockchain the DNT token offers a unique blend of utility and scalability designed to address key gaps in the existing ecosystem.
Why is DNT crypto trending?
One of the reasons for the token to break away from its slumber is due to the massive whales’ purchase on 16 November. According to crypto analyst Javon Marks, DNT crypto prices are now showing extreme strength here and can be in the starting stages of a continuation towards the $0.34353143 breakout target. This could result in massive price rise by another +423%.
Founded by Joe Urgo, this crypto can be traded on centralized crypto exchanges and decentralized exchanges. The most popular exchange to buy and trade district0x is Coinbase Exchange, where the most active trading pair DNT/USD.
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A look at the charts and it will show that momentum is towards the 536-ranked token with the MACD line on a upward curve and momentum is not on a slow path.
Image Credit: Trading View
The RSI of the token is on the higher side at 74.40 with buyers amassing the token.
How is DNT crypto faring today?
The DNT crypto as on 17 November is trading at $0.064103 with a 24-hour trading volume of $2,80,09,560, according to CoinMarketCap. The token is enjoying a live market cap of $6,41,03,334 and has a circulating supply of 1,00,00,00,000 DNT coins.
Per the technical indicators, while the current sentiment of the overall crypto market is Bullish, district0x token recorded 13/30 (43%) green days with 5.51% price volatility over the last 30 days.
While the id does seem to be a good time to buy, it would be advisable for market participants to exercise caution when it comes to crypto market and must study the market, before taking any decisions.
