Will DATA extend losses amid persistent downward price move?
Data (DATA) is trading at $0.115, marking a daily decline of 7.63%. The price is currently below its key moving averages, reflecting persistent selling pressure.
0.1147
0.1291
Highlights
- DATA/USD has dropped 7.63% to $0.115, trading below key short- and long-term moving averages.
- Technical indicators reflect sustained selling pressure, with MACD and ADX on sell signals and CCI in oversold territory.
- Forecast expects DATA/USD to trade between $0.096 and $0.1197 over the next 2 to 3 days, with a high probability of further downside.
Negative momentum intensifies as technical signals confirm bearish setup
On the hourly chart, DATA/USD is below the MA-20 at $0.1208, MA-50 at $0.1216, and the long-term MA-200, with the Ichimoku Kijun level at $0.12 acting as immediate resistance. Momentum remains negative, with both MACD and ADX maintaining sell signals. RSI and Stoch RSI are sitting in neutral territory, while CCI is oversold, highlighting selling exhaustion. Bull/Bear Power is negative at -0.0026, supporting the dominant selling, and the Awesome Oscillator remains neutral, offering no signal confirmation.
Downside risk elevated as volatility undermines bullish reversal
In the short term, DATA is likely to fluctuate within a range of $0.096 to $0.1197 over the next two to three trading days, given high volatility and weak momentum. Upside probability remains very low, while further downside risk is high. A sideways scenario would involve consolidation between immediate support and resistance; a bullish reversal would require a breakout above $0.12, whereas a continuation of the downtrend could see the price slipping below $0.096.
Earlier, analysts noted that Data was entrenched in a pronounced bearish trend with consistent downside risk due to persistent selling pressure. The latest analysis reinforces this outlook, emphasizing that ongoing weakness below key technical levels keeps downside as the primary risk, with $0.12 serving as the crucial level for any potential reversal.
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