Is DENT a buying opportunity after the price collapsed?

By: Stanko Iliev
Stanko Iliev
Stanko is a Financial Analyst for Invezz covering stocks, cryptocurrencies, and worldwide indices. He has significant experience trading forex,… read more.
on Dec 23, 2021
  • DENT has collapsed from recent highs
  • $0.0030 represents strong support
  • Dent is a project with big potential

DENT/USD has found strong support above $0.003, but the price of this cryptocurrency has weakened from $0.008 to $0.0029 since the beginning of November 2021.

The current price stands at $0.0039, and if you decide to trade DENT in the upcoming days, you should use a “stop-loss” order because the risk remains high.

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

Globalizing mobile data

Dent is a blockchain technology project that allows you to buy and sell assets like eSIM cards, voice minutes, mobile data packages, and top-ups on its platform.

This blockchain project is powered by the DENT token and enables you to earn money by listing your unused data on the marketplace.

Dent has virtualized mobile assets and made them tradeable, while DENT tokens are utilized in every transaction on the marketplace.

Dent has over 26 million users, and besides the option of buying and selling assets, this project aims to be the first global and digital operator that provides worldwide access to mobile data without using outdated SIM cards.

Dent solves problems connected with expensive roaming fees and long contracts with operators while the mission of this project is globalizing mobile data. It also offers the most convenient way of staying online while traveling with an internet connection in 60 countries worldwide.

Dent has 1GB, 3GB, 5GB, and 10GB packages available, and it is important to say that users can keep their mobile number active while DENT eSIM handles the mobile data traffic simultaneously.

With the Dent Voice feature, users are able to talk from anywhere in the world without SIM cards or spending loads on roaming fees.

Many important companies and projects have already collaborated with Dent, and the most popular ones include Samsung, GSMA, Telecom Infra, and Enterprise Ethereum Alliance.

DENT has collapsed since the beginning of November 2021, and this cryptocurrency continues to trade in a bear market.

Fundamentally looking, Dent is a truly unique project with big potential, and the current price depreciation has a less fundamental background.

$0.0030 represents strong support

DENT is currently down more than 50% from its recent highs registered in November, but the current price represents a good entry point for long-term investors.

Data source: tradingview.com

The important resistance level stands at $0.0050, and if the price jumps above this level, it could reach levels above $0.0080 again.

The strong support level for DENT stands at $0.0030, and if the price falls below it again, the next price target could be around $0.0025 or even below.

Summary

DENT is currently down more than 50% from its recent highs registered in November, but the current price represents a good entry point for long-term investors. The current price depreciation has a less fundamental background, and if the price jumps above $0.0050 resistance, it could reach levels above $0.0080 again.

Where to buy right now

To invest simply and easily, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognised worldwide, and safe to use:

  1. Etoro, trusted by over 13m users worldwide. Register here >
  2. Capital.com, simple, easy to use and regulated. Register here >

*Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.