DNT, the native token of District0x, has continuously struggled in the markets for the past few weeks. Today, the prices are down by almost a percentage point. The prices have also been trading in a sideways market.
District0x Price History
To understand the current price action, we need to look at where the prices have been for the past few months. In June, District0x is down by 3 per cent. The current drop is an extension of the price losses the crypto made last month where prices declined by 47 per cent. The year-to-date data also shows District0x has dropped by 58 per cent.
However, the recent price drop has been an ongoing trend for more than a year. Since reaching its all-time high of $0.4964, on April 19, 2021, District0x prices have dropped by 80 per cent. Therefore, the major trend of the crypto has been to the downside for the past few months.
District0x Price Prediciton
District0x prices have struggled in a sideways market for the past 7 days. Today, the prices are down by almost a percentage point. In the early hours of the trading session, District0x price had risen by 4 per cent but the prices have since reverted to an almost a percentage point loss.
Using the chart below, we can see that prices have struggled to break out of the current sideways market. The prices have also failed to break the $0.064 resistance level, even after multiple attempts. Therefore, following the recent price action, I expect the DNT price to continue trading sideways.
There is also a high likelihood that we will see the prices enter a bull market in tomorrow’s trading session. This will be a continuation of the recent price action, where the bull and bear trends have alternated in almost all trading sessions. However, if the prices hit and break the $0.064 resistance level, then my sideways market will be invalidated. It will also increase the likelihood of prices entering a new bullish trend.