DIVI Technical Analysis: Bearish Pattern Emerges As Buyers Retreat

DIVI price action shows an inverted rounding bottom pattern as the correctio rally starts after the rejection at $17. Will the breakdown crack the $15 base? Key technical points: The DIVI market value increased by 3.86% in the last 24 hours. The inverted rounding bottom pattern has a neckline at $15. The 24-hour trading volume of Divi is $329,518, indicating a rise of 38.7%. Past Performance of DIVI DIVI prices fail to surpass the $0.073 overhead resistance of a consolidation range formed above $0.054. However, the bullish failure led to a drastic 50% downfall in market price starting on 26th April before taking support at $0.035 on 16th May. The bullish support creates a rounding bottom pattern leading to a bullish reversal. Source-Tradingview DIVI Technical Analysis DIVI price breaks above the rounding bottom’s neckline at $0.039 effortlessly but struggles to sustain above it. It is evident by the higher price rejection we see in the daily candles and a potential threat of an evening star pattern. The MACD indicator shows a bullish crossover supported by the positive growth of bullish histograms. The uptrend in the MACD lines reflects a solid underlying bullishness and promotes a recovery rally to $0.054. Supporting the MACD indicator, the Vortex indicator struggles to sustain the bearish spread and hints at an early bullish crossover. This will undermine the previous bearish attempt and mark a buying spot. However, the Stoc...