$DYM Market Update: Correction Phase Analysis
$DYM saw a $5.015K short liquidation at $0.04787, indicating temporary short-covering activity. Despite this, the broader trend remains bearish, with price trading below key moving averages — 7-day, 30-day, 50-day, and 200-day — and breaking below the main pivot point along with critical Fibonacci retracement levels. RSI is approaching oversold territory, suggesting potential short-term relief bounces, while MACD continues to signal bearish control.
The 24-hour price range shows declining volume and net outflows, reflecting cautious market participation. Immediate support is at $0.0475, with a stronger zone between $0.0472–$0.0476. Downside risk extends toward $0.047–$0.0468, while near-term resistance lies at $0.0482–$0.0485 and $0.0487–$0.049.
Short-term bounces may occur due to oversold conditions, but the overall trend remains weak until major resistance levels are reclaimed. Watch for volume confirmation on any reversal attempt. DYOR.
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