Why DexCheck will continue its run to over 5x.

Last week, I called DexCheck token (DCK) as my definite pick for a wild run in the ending months of 2023 and possibly the early months of 2024. I reviewed the charts and the TA indicators, DexCheck has seen some recovery within this time and the price has gone up to a 5-day high of just $0.026. About a 30% increase from the price levels last week. DexCheck’s gains come as no surprise, the charts, the project’s fundamentals, and the general market are just setting up for the real run, which could come earlier than expected.

Taking a look again, the indicators and the fundamentals still show that the DexCheck token has only started its uptrend and is set for an even wilder run. I will approach this from two angles, Technical Analysis and Fundamentals. I will go with the TA first.

According to the 5-D chart for the DexCheck token, here are some indicators that DCK is set for another interesting 5 days.

RSI indicates that DCK price is gearing up for a new run

At the 5-day high of $0.026, the RSI of the DexCheck token went rapidly from over-bought (81) to levels below 45. The RSI at this level corresponds to a price just above $0.022. DexCheck token appears to be tallying with the normal market behavior. That is, quick profit-taking as the oscillator hits the overbought levels. The current level is neutral and the market is set for a reversal. However, from the recurring pattern, the token could see a little more drop to RSI levels within 37-45, this will correspond to price levels a bit below $0.022 and the token will continue its uptrend to a new 5-day high, which is certainly anywhere above $0.03. If the trend stays true as it has been in the past three weeks, DexCheck could print consistent net gains for every 5-day interval for the next three months.

To support this, we take a look at the full price chart over these 5 days periods;

DexCheck token chart: Support, resistance, uptrend!

The drop below $0.02 between October 28 and October 29, saw DexCheck token lose its $0.02 support level, however, it has regained this level since this time and has gone ahead to break through the resistance at $0.025, the price has pushed back to levels below this resistance but the temporal breakthrough was a solid test for this particular level which has been out of reach for a couple of weeks.

The token has gone for a brief correction at price levels between $0.0215 and $0.024. The price at the time of writing is $0.0228, the charts indicate the possibility of a drop well below this level as traders take profit. However, the support at $0.02 appears to have grown even stronger. The possibility of dropping close to or below $0.02 is quite slim, the only invalidation here is if Bitcoin and the whole market experience a major dump within this time.

As usual, here are some fundamentals and general market outlooks to strengthen the TA analysis

DexCheck is making two major launches in November.

An extra catalyst to the TA analysis is DexCheck’s busy November. The project has announced two exciting launches in addition to some significant marketing moves, all scheduled for the month of November. The Sniper bot is set to launch in the early weeks of November and this will probably be followed by the launch of the DexCheck IPSO (Initial Private Sale Offering) platform. The sniper bot is a major utility Telegram bot and quite an attractive one. DexCheck Telegram bot users can make quick and profitable purchases in one click using the sniper bot. The IPSO is also a huge one. The launchpad will serve as an incubator for high-potential projects. The IPSO platform will allow DCK token stakers to invest in these new crypto projects before they become publicly tradable.

Since these two features are open to pro traders, they are expected to drive the demand for the DexCheck token up. It is exciting to see how these two new additions will contribute to the price development in the coming weeks.

Telegram bot and AI narratives are picking up again

On average, Telegram bot projects and projects using Artificial intelligence algorithms have both seen some good price discovery in the past 14 days. These two narratives are huge ones, in the crypto space and even outside it. DexCheck is a big player in these two spaces and as they gain steam, DexCheck is also prepared to tap into the liquidity and demand that comes with it. Also, being a low-cap project in both spaces, investors will be looking for a project with the highest chances of a major uptrend. dexCheck fits every criterion for enormous demand and this will contribute to the price development over the coming weeks.

Bitcoin is warming up for new highs

Bitcoin touched $35,000 and even went further ahead to levels above $35,800. It is currently trading within this range but appears to be only getting ready for another major run. The whole market has also responded with an average of 7% gain. With Bitcoin staying healthy and Ethereum following up, the whole market might make major moves in the next few days. Considering the fact that the current Bitcoin run hasn’t really been met with a relative altcoin run, the market is due for significant moves across altcoins.

If Bitcoin experiences substantial movement and altcoins follow according to the normal pattern, DexCheck is positioned to benefit. Given its strong fundamentals and relatively modest market capitalization, it has the potential to outperform the broader market. It’s worth noting that small-cap and mid-cap projects have historically been among the most significant gainers in bull markets.

Closing Thought

DexCheck token has been gearing up for major moves for quite a long time. It is only normal that the market is finally responding to the solid fundamentals it has built over this time. As the market proceeds, we will see even more gains in these charts. According to team announcements, there are major developments lined up for the next few weeks which I didn’t mention due to uncertainties, and these could add even more momentum to the price development which is gaining some strength on its own. Also, Telegram bot projects appear to be catching new steam, DexCheck is well-positioned to tap into these leads and deliver positive price developments.

Having said this, it is important to know that these estimations are mathematical calculations and probabilities, it is advised that traders do their own research before trading any crypto asset and also apply risk-management strategies as much as possible.