Breaking News! Binance 50x Leverage + Airdrop Benefits, $DAM Technical Analysis Shows Golden Pit Signal!
The current technical analysis of DAM shows a weak oscillating pattern, with the 1-hour candlestick indicating the price hovering around 0.06162. The moving average system is arranged downwards, creating bearish pressure. The MACD indicator is in the negative zone, but the reduction in red and green bars shows a weakening of bearish strength. The trading volume has shrunk to 41,700 coins, and there are signs of buying support near the key support level of $0.06.
The news presents positive stimuli: on August 18, Binance Alpha launched the Reservoir protocol token DAM, simultaneously opening USDT perpetual contracts with a maximum leverage of 50x, along with airdrop benefits to attract user participation. In the project token's economic model, 20% is used for ecological incentives, and 10% is allocated for airdrop distribution, creating early user dividends.
On-chain data shows that trading activity increased after Binance's launch, but caution is needed due to the unlocking pressure from private key sales accounting for 13.67%. The current price is close to four times the historical low of $0.03835.
If BTC holds the $120,000 level, DAM is expected to rebound based on the $0.06 support level, targeting the $0.07 resistance level and the previous high of $0.04347. However, it is essential to be cautious of short-term profit-taking pressure.
In the cryptocurrency world, it’s essentially a game between retail investors and whales. If you don’t have cutting-edge news or firsthand information, you can only be cut! If you want to strategize together and harvest with the whales.
