Dash Weekly Analysis - Poised for Declines
Key Highlights. Dash continued to struggle, and it looks like it is set for more declines moving ahead. There is a critical support formed around 0.0120BTC, which if breached might call for a test of 0.0114BTC. Dash failed to clear 0.0125BTC resistance area, which has increased the possibility of a break lower in the short term. 0.0120BTC Hold the Key. We have been following a major support at 0.0120BTC, which acted as a barrier on numerous times and protected the downside. However, it is vulnerable moving ahead, as there are a lot of things aligning in favor of sellers. The most important....
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Dash Price Key Highlights. Dash price continued to follow a downward sloping channel and looks set for more declines. Price is trading around the 100 hourly simple moving average, i.e. acting as a pivot area. Dash sellers were seen in control and if they gain momentum, the price might break 0.0116BTC to trade lower. Channel Break. We highlighted a critical descending channel on the hourly chart, which is acting as a catalyst for sellers and buyers. There were times when the price settled below the 100 MA and closed above it on a few occasions. There is a support area building around....
Dash Price Key Highlights. Dash price after a sharp spike higher failed to hold gains and traded lower. There is a major trend break noted, which is likely to ignite more declines in the short term. Dash price once again failed to continue trading higher and moved back lower to clear a major support area. Dash Price - Retest of 0.0125BTC. We highlighted this past week that the price could trade higher, and bounce sharply. There was an upside reaction, but buyers failed to outpace sellers after some time. There was a solid selling interest noted around the 50% Fib retracement level of the....
Key Highlights. Dash price after surging higher corrected lower as forecasted in the weekly analysis. There is a major support building around 0.0125BTC, which is likely to act as a pivot area. A bullish trend line is also formed, which is a crucial barrier for sellers. Dash price correction phase is likely to complete soon, which means buyers might take control in the near term. 0.0125BTC as a support. As highlighted in the weekly analysis, the Dash price surged higher after clearing a couple of major resistances like 0.0120BTC and 0.0125BTC. The upside after the break was stalled around....
Key Highlights. As mentioned in the previous week analysis the Dash price faced an important resistance area around 0.0118BTC. The price failed to break the mentioned area and traded lower to move towards the last swing low of 0.0111BTC. The 100 hourly simple moving average is above the current price and acting as a hurdle for buyers. Dash price every attempt to move higher was invalidated as sellers appeared every time to defend the upside. 100 hourly SMA Resistance. We highlighted in one of the previous week's analyses that there is a bearish trend line on the hourly chart, which acted....
It seems there is no stopping Dash from digging deeper into the red. The cryptocurrency has sunk to a fresh 1-month low of 0.01163BTC as bulls refrain from entering the scene, extending the ruthless bear market that Dash has entered into. I advised in my yesterday's analysis that Dash is still not a good contrarian bet and long positions are best avoided. I maintain my bearish outlook. Trading under pressure, Dash has a value of 0.01175BTC. An analysis of the 360-minute DRK/BTC price chart reveals that the cryptocurrency may be oversold from a near-term perspective, however, the long-term....