Key takeaways
- DUSK has fallen below $0.20, losing about 35% of its value in the past 24 hours.
- The coin surged to $0.32 on Monday, marking a 150% gain over the last week.
DUSK cools down after a rapid surge
DUSK, the native token of the Dusk Network, retreated under the $0.20 mark after a steep intraday drop that erased roughly 35% of its price. The pullback follows an impressive one-week run in which DUSK rose about 150%, significantly outpacing many larger cryptocurrencies.
Market data from CoinGlass shows futures open interest (OI) on exchanges reached a fresh all-time high of $47.94 million on Monday and settled near $39 million on Tuesday. Elevated OI generally signals that new capital is entering the derivatives market, which helped fuel DUSK’s recent price acceleration.
On Binance specifically, futures OI climbed to $20.54 million—levels not seen since February 2023—highlighting concentrated speculative activity on one of the world’s largest crypto venues.
On-chain and trading metrics also reflected the rally. Santiment recorded a peak daily trading volume for the DUSK ecosystem of $298.43 million on Monday, which remained elevated at about $264.16 million on Tuesday. Such volume spikes often accompany rapid price moves and increased market attention.
Part of the bullish narrative was supported by a partnership announcement from Dusk Network on Monday: an integration with Chainlink to implement key standards across DuskEVM. The collaboration aims to enable cross-chain interoperability for tokenized real-world assets and supply reliable, real-time data for compliant financial applications, with backing from NPEX, a regulated Dutch stock exchange.
Will DUSK aim for $0.33?
Despite the 35% correction over 24 hours, the DUSK/USD 4-hour chart maintained a bullish bias. Price remained above a key weekly support level near $0.17, which buyers were actively defending.
If bulls can retake control and DUSK closes a daily candle above that weekly level, the token could resume its ascent toward the December high around $0.33. Technical indicators on shorter timeframes support that possibility: the 4-hour Relative Strength Index (RSI) sat near 74, in overbought territory, signaling strong bullish momentum, while the MACD indicated a bullish crossover.
That said, a sustained correction could push DUSK lower. If selling pressure continues, the token may test the 50% retracement area near $0.18 before buyers step back in. Traders should watch open interest, volume, and whether the weekly support holds to gauge the next directional move.