DIA Soars 25% on Smart Money Buying Amid Partnership Boost

DIA, the native token of the decentralized oracle protocol, surged over 25% amid renewed accumulation by smart money investors, sparking speculation about its potential to reach $1 [1]. As of Tuesday, August 26, DIA reached an intraday high of $0.84 before settling at $0.76 [1]. This rebound followed a prolonged downtrend, with the token still down 18.7% from previous levels. The surge was primarily driven by increased buying activity from institutional-grade smart money wallets, which saw a 40% rise in holdings over the past 24 hours [1].

The renewed interest was partly attributed to DIA’s recent partnership with Units.Network, a cross-chain liquidity infrastructure, which was announced on August 25 via X [1]. This integration allows developers to access high-quality, verifiable price feeds, enhancing the utility of the DIA ecosystem and increasing token demand through staking and validator incentives [1]. Additionally, exchange-held balances of DIA dropped from 85.6 million to 81.21 million tokens, signaling reduced supply and potentially supporting price strength if demand remains robust [1].

From a technical perspective, DIA's price movement is caught in a complex setup. The 20-day simple moving average (SMA) appears set to cross below the 50-day SMA, a classic bearish signal that may indicate weakening short-term momentum [1]. The Aroon indicator also shows a bearish bias, with Aroon Down at 92.86% and Aroon Up at 0%, suggesting the most recent high occurred long ago while the most recent low was very recent—a pattern often associated with a downtrend [1]. Despite these indicators, DIA has been trading within a falling wedge pattern since late July, a formation that could signal a bullish reversal if confirmed by a breakout above the upper trendline [1].

A successful breakout could potentially push DIA toward the $1 psychological level, offering a significant upside from its current price. Conversely, a failure to break out could see the price retest support at around $0.66, aligning with the 38.2% Fibonacci retracement level [1]. While the on-chain and fundamental catalysts are largely bullish, technical indicators suggest a cautious outlook, highlighting the need for price confirmation before a meaningful trend reversal can be expected [1].

Source: [1] DIA price rallies 25% amid smart money accumulation, can it hit $1? (https://crypto.news/dia-price-rallies-25-amid-smart-money-accumulation-can-it-hit-1/)