DUSK Price Outlook: DUSK Eyes Further Upside to $0.16 Amid Stable Derivatives Market

Highlights:

• DUSK price has recovered to $0.1147, marking an 11% surge today.
• The derivatives market shows a potential upside as the open interest soars and the long-to-short ratio surpasses 1.
• The technical picture signals further upside towards the $0.16 zone as long as the support zone holds.

DUSK (DUSK) price is continuing its recovery, and it is trading at $0.1147 at the time of writing on Tuesday, having been supported on the key level. The data on derivatives promotes the process of rebound and the increasing long bets among the traders. On the other hand, the technical side is a little optimistic as long as the major support is maintained.

According to CoinGlass data, the long-to-short ratio of DUSK stands at 1.03 on Tuesday, and it has been on an upward trend. The above ratio is indicative of a good mood in the markets, with the increased traders betting that the asset will strengthen.

Also, futures Open Interest (OI) of DUSK on the Binance exchange has increased by 0.2% to $7.42 on Tuesday as compared to $6.50 million the previous day. This slight improvement of OI shows an increasing investor involvement and indicates a positive future.

DUSK Price Eyes Further Upside Towards $0.16

The DUSK/USD trading pair shows signs of a possible bullish reversal after holding strong above the $0.088 key support level. The token is exchanging hands around $0.1147, recovering from a recent downtrend that saw it test the $0.099 zone. This bounce suggests buyers are stepping back in and preparing for another push upward, as long as the support area stays intact.

The chart also highlights a golden cross in the DUSK market. This is evident, as the short-term moving average (50-day SMA) has climbed above the 200-day SMA. As long as DUSK stays above the $0.088 zone, the outlook remains positive. Traders are now watching the $0.16 resistance, which acted as a barrier during the last rally. If the price can break above this level, DUSK could make a run toward its next target near $0.22. 

Technical indicators also support the potential for another move higher if the bulls regain stamina. The Relative Strength Index (RSI) is sitting around 48.62, which shows that the market is in a neutral state. This means the token is not overbought and still has room for more upside momentum. The RSI has also stabilized after cooling down from its January 19 highs, which reduces the risk of a sharp pullback in the near term.

However, MACD has dipped below the signal line but remains in positive territory. If bullish momentum strengthens, supported by positive derivatives data, DUSK could move toward $0.16 and then $0.22. A breakout above $0.22 would indicate strong buyer control and potential for further gains. On the downside, failing the $0.088 support may trigger selling pressure, pushing the token toward $0.066.