Elliott Wave Forecast Team
ElliottWave-Forecast.com
DSYNC Destra Network is a decentralized cloud solutions project utilizing AI computing mechanisms and advanced technologies like IPFS and ENS. In today’s article, we’ll explain the daily Elliott Wave structure taking place and explore the potential outcome for the token.
In March 2024, DSYNC reached a high of $0.5 marking the first rally from the lows as a wave ((1)). Since then, the token started a corrective decline unfolded as a Double Three structure. Despite losing 82% of its value during the decline, the moment it reached the blue box area at equal legs $0.11 – $0.04 buyers showed up as expected looking for a reversal to take place from there or at least a larger 3 waves bounce to happen.
DSYNC ended the proposed wave ((2)) at the blue box area then it started the next cycle to the upside within a wave ((3)). The initial rally from the lows is showing a 5 swings advance which is considered as a bullish sequence either to define a 5 waves structure or it could turn out to be a nesting structure. Both scenarios are supporting the idea of more upside to take place and any correction should remain supported in 3 , 7 or 11 swings above July 2024 low $0.09.
DSYNC daily chart 8.1.2024
FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITY AND LIABILITY Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.
Recommended content
Editors’ Picks
AUD/USD: The 200-day SMA holds the downside…for now
Quite a volatile session saw AUD/USD end barely changing from Friday’s closing levels around 0.6660, down slightly amidst the continuation of the robust performance of the US Dollar.
EUR/USD remains supported near 1.1030
EUR/USD kicked off the new trading week on the defensive, adding to Friday’s pullback following an extra advance in the Greenback and ahead of the release of US CPI later in the week.
Gold holds ground around $2,500
Gold (XAU/USD) rebounds toward $2,500 on Monday after falling below $2,490 earlier in the day. Rising US Treasury bond yields and the renewed US Dollar strength, however, seems to be limiting XAU/USD's upside.
What’s next for Ripple after XRP reserve on Binance declines by 167 million tokens
Ripple (XRP) reserve on one of the largest crypto exchanges, Binance, declined by 167 million in a time frame of five weeks. This is a key development for XRP holders since a decline in the asset’s reserves on exchanges implies there are fewer XRP tokens to sell.
Week ahead: ECB poised to cut again, US CPI to get final say on size of Fed cut
ECB is expected to ease again, but will it be another ‘hawkish cut’? US CPI report will be the last inflation update before September FOMC. UK monthly data flurry begins with employment and GDP numbers.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.