Dash Price Technical Analysis for 18/05/2015 - Short-term Reversal?
Key Highlights. Dash after trading as high as 0.0130BTC failed to maintain momentum and fell back sharply. It formed a short-term reversal pattern, which is likely to ignite more losses moving ahead. Downsides in Dash are likely if sellers manage to clear the 100 hourly simple moving average, as there are a lot of bearish signs emerging. 100 MA as Support. Dash traded lower recently after forming a toppish pattern on the hourly chart around 0.0130BTC, but sellers are facing a major resistance in the form of 100 hourly MA. Moreover, the 50% Fib retracement level of the last wave from the....
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Dash has rebounded strongly after hitting a fresh 1-month low of 0.01163BTC yesterday; the price has jumped more than 6% from the previous observation of 0.01175BTC to the current 0.01267BTC. It was earlier discussed that the cryptocurrency was highly oversold and may stage a rebound and now with that accomplished, it will be interesting to see if Dash is able to break the lower-top, lower-bottom structure. Technical analysis of the 360-minute DRK/BTC price chart implies that there is steam left in Dash, but even that may not be enough to script a trend reversal. DashCoin Chart Structure -....
Dash continues with its strong rebound from the oversold levels, decisively breaching the target of 0.01330BTC. On the back of strong momentum and supported by heavy volume, Dash has soared more than 18% in the past 24 hours. With bulls continuously pushing for higher highs, Dash is now worth 0.01500BTC. As the cryptocurrency successively crosses previous peaks, it becomes imperative from a trading viewpoint to examine whether it has become overbought in the near term. Technical indicators overlaid on the 360-minute DRK/BTC price chart reveal that it may be time to take some money off the....
Bears hold complete control over Dash as the cryptocurrency continues with its spree of hitting fresh lows. In my earlier analysis on Dash, I had mentioned that the cryptocurrency is steadily losing and that it is best to stay on the short side of the trade; those who had followed this advice would have made good money (or avoided huge losses) as the cryptocurrency has plummeted to a 1-month low of 0.01231BTC. Dash is still under extreme selling pressure, languishing near the lows at 0.01254BTC. Although it is incredibly difficult to comment now as to when the ignored cryptocurrency will....
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....
Investors in Dash can breathe a sigh of relief as the cryptocurrency seems to be staging a comeback after dropping roughly 40% from the 1-month high of 0.02495BTC achieved in March. This is in stark contrast to the bearish undertone that I had been following in my earlier analyses however, this is not to say that Dash is completely out of the woods yet. Each Dash is currently valued at 0.01403BTC. An analysis of the 360-minute DRK/BTC price chart reflects that the bears have taken a breather and that bulls are trying to claw their way back into the game. Dash seems to have broken above the....